FinTech Female Fridays: Deborah Peace, CEO and Founder of ACH Alert
This week we go beyond New York to feature Debbie Peace, CEO of ACH Alert from Tennessee.
What is your professional background and what led you to become CEO of ACH Alert?
Within one year of graduating high school, I took an office/credit manager position with a large retailer that lasted seven years. I then took a few years to be a stay-at-home mom before working as a receptionist for a software development firm in 1992. In 2001, I started my own ACH processing company and built proprietary software to run that business. In 2005, I sold that company to MoneyGram International and started ACH Alert in June 2008.
ACH Alert is a fraud protection system for banks and credit unions; can you speak about how the reg tech space has changed in the past year and how it will change further in the upcoming year?
The last guidance on authentication in an online banking environment was issued by the FFIEC in 2011. In the last five years, instances of fraud have gone up. I expect that we will see new guidance issued in the next year or two that will address best practices to prevent fraud occurring in the online channel.
You served on the Consumer Advisory Council of the Federal Reserve Board, can you speak about your experience and what you learned while serving on this board?
It was a major learning experience; it gave me insight into what the Federal Reserve Board can and cannot regulate and a passion for consumer advocacy. In my role, I represented the business sector, so it was truly a coming together of different perspectives.
How have you been able to build your network and maintain these relationships?
I believe investing in relationships (doing what you say you will do, giving more than is expected and contributing help to others when there is nothing for you to gain in return) is critical in both life and business. A good strong network is a by-product of that investment.
Is there a book or a podcast that you have read/listened to recently that has helped you in your career?
I love the books “The Five Dysfunctions of a Team” and “Death by Meeting.” I have applied the principles learned in these books to both of my businesses.
Reach out to Deborah on LinkedIn.