Waterbury-based Webster Bank, with offices between New York and Boston and with multiple branches in Fairfield County, ranked among the top 50 Automated Clearing House originators and receivers nationally last year, according to a 2013 payment volume announced by the National Automated Clearing House Association.
The Automated Clearing House is an electronic network that processes large volumes of U.S. credit and debit transactions in batches. A total $38.7 trillion was transferred over the ACH network in 2013, an increase of almost 5 percent from 2012.
This is the second consecutive year Webster Bank was listed in the ACH top 50.
Webster also posted the third-highest growth in origination transactions among the 50 ”“ a 45 percent increase over the previous year. Webster”™s two-year growth in originating transactions is 63 percent.
Webster was number 45 among the top 50 ACH originators in 2013, up from number 49. It was number 48 among the top 50 ACH receivers in 2013, down from number 42.
“Our origination success was driven by significant middle market relationships and increased commercial volume,” said Phil Picillo, senior vice president and director for treasury and payment solutions. “Municipal, government, health care and payroll clients also played a role in the increase.
“We are pleased to make NACHA”™s top 50 list again,” he said. “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. The difference is we provide a regional touch for our customers.”
