EastNets holds seminar on Automated Clearing House deployment and regulatory compliance

April 14, 2015: EastNets, a leading global provider of compliance and payments solutions for the financial services industry recently gathered top bank executives at the Marriott Hotel in Amman, Jordan for a seminar on the deployment of the Automated Clearing House (ACH) - an electronic funds-transfer system - and meeting the ACH regulations imposed by the Central Bank of Jordan. During the event, representatives from the company discussed how en.PaymentSafe, a payment hub technology, helps ensure compliance by the financial services industry with the Central bank of Jordan ACH requirements which have a direct effect on the format of  local financial messages and business processes.

The event provided the attendees a platform to brainstorm, share their solutions to industry challenges, and give their suggestions on how to further improve current systems and procedures in relation to the new regulations. It took place amidst intensified efforts to modernize and reform Jordan’s national payment systems.  

Hazem Mulhim, CEO, EastNets, said:  “ACH is one segment that is being regulated and monitored by the Central Bank of Jordan in order to prevent fraud. Financial institutions must put in place foolproof procedures and systems with consistent updates for compliance purposes. Updates in the systems also make sure that all kinds of related threats are addressed. We held the seminar to assist banks in ensuring that they deploy the right technology and properly trained staff. Our en.PaymentSafe solution provides the flexibility and support as well as allows different levels of customization.  We look forward to conducting similar events in the future.”