Oren Kedem

Federal regulations — including the FFIEC's recent mobile security guidelines — have not kept pace with mobile innovation and the security risks users face from smartphone banking platforms.

While beneficial for businesses and consumers, Nacha's new rule for same day transactions will require banks and other financial institutions to review thousands of additional transactions per day, leading to a significant increase in costs, not to mention an increased potential for fraud due to volume and rapidness of review.

NACHA's adoption of same-day payment, or ACH (Automated Clearing House) payment - allows businesses and customers to benefit from receiving same-day transaction processing, though with security risk.