Dynamic Payment Association Created in Merger of WACHA and MACHA.
Partnership with Argos Risk Helps Members Navigate the Ever-Changing Payments Landscape with Third-Party Risk Intelligence
MINNEAPOLIS, MN, July 28, 2020 - Argos Risk, a leading provider of Third-Party Risk Intelligence (TPRI) services for managing and monitoring the financial viability and overall business health of third-party relationships, today announced its expanded Regional Payments Associations partnership with Wisconsin Automated Clearing House Association, Inc. (WACHA) under the Mid-Atlantic Clearing House Association, Inc. (MACHA) acquisition.
Prior to acquiring WACHA, MACHA served financial institutions, businesses, and municipalities in Maryland, the District of Columbia, Delaware, Northern Virginia, Northeast West Virginia, and Southern Pennsylvania. Payment Advisory Resource (PAR), a former subsidiary of WACHA, has also become a wholly-owned subsidiary of MACHA and will continue to deliver compliance, audit and consulting services, and risk management under the combined payment association.
WACHA has been a subscriber of Argos Risk’s flagship solution, AR Surveillance™, since 2012 and monitors a variety of companies including construction, advertising, consulting, professional services development, and software companies. “As payments continue to converge and evolve, we were excited about the opportunities this merger provides the combined membership and further introducing the benefits of third-party risk intelligence services,” said Mary Gilmeister, MACHA’s President and CEO.
Argos Risk’s reputation is built on delivering an innovative third-party risk intelligence solution; providing operational excellence to proactively meet challenging market conditions. AR Surveillance leverages more than 10,000 data points to assign risk scores to a bank, credit union, or company’s third-party commercial relationship. It automatically generates and sends alerts about significant changes, such as lawsuits, liens, mergers, acquisitions, key executive changes, and current material news and events while providing actionable insights into originator viability allowing one to quickly and consistently assess originator risk levels.
“We are delighted to continue to work with Mary in her new role as MACHA’s President and CEO,” said Lori Frank, Argos Risk’s President and CEO. “In our fast-changing environment, we adapt to new demands, expectations, and norms,” said Frank. “As ACH Risk Managers in banks, credit unions, and organizations embrace the new normal of risk management, we help them confront the challenge; to keep their risk limits current and in alignment with the business health of their originators.”
About Argos Risk
Argos Risk is a leading provider of Third-Party Risk Intelligence solutions. Over the past decade, Argos Risk has fulfilled a need for timely and comprehensive risk mitigation knowledge with third-party risk intelligence. Argos Risk provides innovative and affordable subscription services to help companies manage the risk associated with their third-party relationships in Supply Chain Management, Vendor Management, ACH/RDC origination, and Direct and Indirect Lending.
About MACHA
MACHA, founded in 1975, is a member-based organization and is recognized as the premier payment resource expert for information related to all payment rules and networks. MACHA shares a common strategy with its membership in the pursuit of maximized business efficiencies, improved and evolving payment processes, reduced risk and cost, and increased participant satisfaction. With the combined organizations, MACHA now serves over 500 members. To learn more, contact Mary Gilmeister at mgilmeister@wacha.org or call (262) 345-1245.
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