Webster lauded by clearing-house group

WATERBURY, Conn. – Webster Bank has been ranked among the Top 50 Automated Clearing House originators and receivers in the U.S. by the National Automated Clearing House Association, according to a May 5 announcement by the bank.
The ACH is an electronic network that processes large volumes of U.S. credit and debit transactions, with a total of $38.7 trillion transferred over the ACH network in 2013, an increase of about 5 percent over 2012.
“Our origination success was driven by significant middle market relationships and increased commercial volume,” said Philip Picillo, head of treasury and payment solutions at Webster Bank. “Municipal, government, health care and payroll clients also played a role in the increase.”
This is the second consecutive year Webster Bank earned a spot on the list.
Webster Bank placed 45th on the list of the top 50 ACH originators in 2013, up from 49 in the previous year. The bank was number 48 on the list of the top 50 ACH receivers in 2013, down from 42 in 2012.
“We are pleased to make NACHA’s top 50 list again. It indicates to us that we have the same competitive products and services businesses need to manage their cash flow as the really big banks,” said Picillo. “The difference is, we provide a regional touch for our customers.”

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