A Comprehensive Solution

"When we decided to obtain an independent assessment of our risk management
and operating controls for ACH, we had three essential criteria -- a deep understanding of the ACH network itself, useful insights into fraud and regulatory compliance issues, and a direct approach that would focus on tangible changes rather than theoretical exercises. We found all of that, and more, in the work done by George Thomas and Radix Consulting."

SVP - Top Ten ACH Bank

Services

Risk Management

• Operational Risk
  • Conduct comprehensive reviews of an institution’s computing environment
  • Create and review an institution’s business continuity plans for any operating emergency. 
  • Provide best practices on redundant data centers, data mirroring, environmental controls, power, software resiliency, and telecommunications. 
  • Evaluate Quality Control and testing procedures to minimize software failures
  • Review patch management and change control procedures
• Fraud Risk
  • Review internal controls used by the institution to mitigate internal fraud risks and identify strengths and weaknesses
  • Review controls and procedures in place to mitigate external fraud
• ACH Risk Management
  • ODFI/Originator review to ensure compliance with NACHA operating rules. Assistance with compliance audits for ensuring adequate procedures are in place for ACH operations.
  • Fraud risk – Audit an institution’s procedures and best practices to ensure that the institution is protected from internal and external risk.
  • Reputation Risk – employing best practices for dealing with merchant processors or other high risk transactions
• ODFI assistance for ensuring that best practices are in place for performing the proper due diligence for originators and third party senders
• Risk Management Flyer (Download PDF)
• Credit Risk
  • Review institution’s exposure with credit and debit payment transactions
  • How to monitor origination over multiple days
  • Determine the proper amount to hold in reserve for debit originators
  • How to evaluate certain types of companies
  • How to identify high return rates and the dangers of high returns

Technology

• Vendor research, evaluation and selection
• Evaluation and selection of software applications for
  • Check
  • Wire transfer
  • Image processing
  • Automated Clearing House (ACH) 
• Request for Information and Request for Proposal Preparation
• Payment operations best practices

Marketing

• Strategic marketing planning
• Development of annual marketing plans
  • Address internal and external environmental factors and capitalize on your businesses strengths and opportunities.
  • Competitive analysis
  • Highlight best practices in marketing your electronic payments to your various target audiences
  • Developing specific goals and marketing tactics, tailored to your businesses strategic and business plan
• Branding your business for future success
  • Brand recognition (How to obtain the most efficient and effective industry brand awareness
• Development of a marketing budget

Product Development

• Learn how to improve your home banking platform for P2P, A2A and C2B payments
• Guidance on how to develop a business-to-business strategy from an origination and receive standpoint
• Enhancing value-added services to grow revenue and increase client base
• Developing electronic payment initiation and receive platforms (including home banking and cash management)
• Business-to-business remittance delivery strategies

Research

• Assistance with research projects, including question development, project management, analysis and reports. 

Strategy Planning

• Work with payment infrastructure providers on long and short term strategic plans
• Partner with financial institutions in evaluating and developing their strategies around payments

Payments Systems in Developing Countries

• Assistance in establishing electronic clearing systems in developing countries. 

Payments Systems Expert Witness

• Any organization contemplating litigation or facing litigation will get sound advice on the course of action they need to take.  

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