ACH Network Challenge 2019
The ACH Network Challenge, a team competition — worth $25,000 in prize money — is designed to foster new ways to enable usage for Same Day ACH to improve efficiencies and added capabilities within the payments ecosystem.
This year’s ACH Network Challenge invites teams to submit ideas for the best uses for Same Day ACH that no one else has thought of yet! The Challenge is open to everyone – corporates large and small, small-medium business, financial institutions, fintechs and solution providers, governments and nonprofits. Consider one of two scenarios and tell us how you would use, or enable others to use, Same Day ACH to pay or be paid faster.
Scenario #1: Go beyond the often cited and well-documented payroll or insurance claim Same Day ACH use cases and submit your ideas – either those already in use or concepts still being incubated.
Scenario #2: Imagine yourself as an entrepreneur interested in starting up a fintech. You see competitors already using Same Day ACH and enjoying the benefit of being paid, or making payments quickly, safely and effectively. Consider your product and market audience, and the problem you’re trying to solve. How would you incorporate Same Day ACH to pay or be paid?
Process & Rules
- Judges will be drawn from across the NACHA family of organizations comprising the Payments Innovation Alliance, Direct Membership of NACHA, the Board of Directors, the Board Advisory Group and the PAYMENTS 2018 Conference Planning Committee. All appropriate measures will be taken to mitigate any potential conflicts of interest consistent with NACHA policies and practices.
- Members of teams selected for the finalist competition shall be notified by NACHA by Friday, April 5, 2019.
- Teams that qualify for the finalist competition must be represented by at least one team member to present the team’s proposal to judges on Monday, May 6 at the PAYMENTS Innovation Hub in the exhibit hall at PAYMENTS 2019 in Orlando Florida. Judging will occur between 12-12:50 p.m. local time that day. Teams will be given 5 minutes to present their idea. Exact timing for presentations will be communicated upon notification of finalists.
- The awarding of the $15,000 Judges’ Choice prize will be based on the results of the May 6 presentations. A separate, $10,000 cash prize will be awarded based on audience voting conducted at the beginning of the 2019 NACHA Payments Awards Luncheon. The recipients of the Audience Choice and Judges’ Choice prizes will be announced at the end of the luncheon service. As the awarding of the two prizes is determined separately, a different or the same team could be selected for each.
For More Information
Contact NACHA staff via email at email@example.com or by phone at 703-561-1100 with questions or to request assistance with your submission.