By Rhonda Miller
PBN Staff Writer
WATERBURY, Conn. – Webster Bank has been ranked in the top 50 Automated Clearing House, or ACH, originators and receivers in the nation, according to a press release. ACH is an electronic network that processes large volumes of U.S. credit and debit transactions in batches.
Webster originated more than 13 million debit and credit transactions in 2012, which was a 40.5 percent increase over 2011, the fourth largest annual increase among the top 50 banks.
“Our ACH volumes were driven by significant middle market relationships and increased commercial volume,” said the bank’s Senior Vice President and Director of Treasury and Payment Solutions Philip Picillo.
“Municipal and government clients, as well as health care clients also played a role,” said Picillo. “We’ll continue to invest in electronic payments and in the technology and infrastructure supporting these activities.”
Webster Bank is a regional bank serving businesses and consumers from Westchester County, N.Y., to Boston, Mass., including several branches in Rhode Island.