I’m very excited about Clarity’s newest product, Clear Warning For ACH Presentment . The product’s main purpose is to prevent unnecessary ACH returns and addresses some important issues:
- Unnecessary NSF fees just piss off the borrower.
- As a lender, excessive returns are more likely to receive complaints at the local and federal level.
- Returns are part of the business, but why harm your relationship with your ACH processor? Value your processor. They’re sticking their necks out for you.
Clarity is constantly trying to solve problems and their timing could not be any better. Clear Warning is going LIVE in September.
The benchmark for returned items is 1-2%. The online lending industry is upwards of 20%. Reducing that at any level would be great for the industry. The best part is that it’s good for the borrower too. The borrower does not have to incur unnecessary NSF fees.
Of course, the big question is, how does this work and is it accurate? Personally, I would love to run it and ACH the accounts that are blocked. It would be nice to gauge the accuracy of the product.
If you would like to learn more about this product, you can contact Clarity directly at:
Phone: 727-400-6777
salesdepartment@clarityservices.com
