Unifits
Preferred Partner for ACH Experience/Compliance/ISO 20022
Unifits is a Nacha Preferred Partner for global ISO 20022 compliance. As a software and consulting company, Unifits provides innovative IT solutions to automate transaction testing in the financial industry.
Unifits' solutions are expertly designed to provide a streamlined, accurate, and efficient approach to achieving and maintaining ISO 20022 compliance. Founded in 2010 and based in Salzburg, Austria, with offices in Germany and Canada, Unifits is now an established leader in transaction testing for ISO 20022 compliance. Its employees are both software specialists and consultants within the financial services industry. This unique mixture of experience and innovation allows Unifits to keep working towards its goal to make financial transaction processes and payment testing as simple as possible.
Unifits’ solutions are tailored to help banks navigate the complexities of ISO 20022 compliance across multiple clearing infrastructures. Unifits supports central infrastructures and their network of participants to ensure banks meet and sustain compliance across all payment rails. Additionally, Unifits products perfectly support corporate clients to address and correct some of the biggest pain points currently experienced in modernizing payments and becoming ISO 20022 compliant, maintain operational integrity and minimize compliance risks.
Benefits of a Nacha Partnership:
Unifits has had a relationship with Nacha for over five years. First, being a member of the Payments Innovation Alliance team and now a Preferred Partner. Unifits’ goal is to strengthen the relationship with Nacha and help ACH Network users conform to ISO 20022 standards. Unifits will benefit from having access to collaborate with other Nacha Preferred Partners as well as partners in the financial sector to help educate and prepare the North American market to adapt, transition and benefit from the rich data included in ISO 20022 standards. Several research papers have concluded that the path to ISO 20022 compliance is much more challenging and time-consuming than anticipated. The transition to ISO 20022 represents a significant challenge and banks play a crucial role in this complex journey. For banks, this journey can be resource-intensive, time-consuming, and fraught with risks. Together with Nacha, Unifits can equip banks with the tools and training to make the transition to ISO 20022 seamless for them and their corporate clients.
How Unifits helps advance the ACH Network:
In times of increasing complexity along with regulatory and compliance requirements in payment transactions, Unifits is a software and consulting company that provides end-to-end test solutions as a one-stop provider. Because Unifits closely monitors all eventualities and considers all conceivable cases to help address specific changes to payment rails, schemas, industry requirements and upgrades their software accordingly, it provides Nacha, the ACH Network, its partners and affiliates the benefit of becoming compliant quickly and efficiently. Unifits has gained extensive knowledge and expertise from past ISO conversions working with banks and clearing providers around the globe on their ISO journey and has helped them achieve beneficial results.
For more information, read the announcement or visit Unifits.
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