The Electronic Clearing House Organization ("ECCHO") today announced that it is exploring possible strategic opportunities.
ECCHO (www.eccho.org), a nationwide bank check clearing house with almost 3,000 depository institution members, is exploring possible strategic opportunities that may be available with other organizations.
"ECCHO has been instrumental in supporting the financial services industry's successful migration from paper checks to electronic check images. We believe that the U.S. payments system is on the threshold of another milestone transformation, due in part to the financial services industry's and Federal Reserve's efforts to develop faster payments and related technological advancements. ECCHO wants to ensure that it is best positioned to continue to support check image exchange and to facilitate the upcoming faster payments innovations. Key objectives for this strategic opportunity include enhancing ECCHO's functions currently provided to its members and the banking industry generally, including its rules, advocacy, educational and check resource functions," said David Walker, President and CEO of ECCHO.
"We are reaching out to a broad array of organizations to determine their interest in possible strategic opportunities with ECCHO, including industry payments rule organizations, industry trade associations, and payment system networks," David Walker added.