Active Initiatives


Shaping the Future of Payments

These Initiatives represent the work of the Alliance. Through active project teams, task forces and industry groups, members collaborate to influence existing and emerging payment trends, drive change, remove barriers, and support innovation.  Would you like to incubate ideas and engage other industry thought leaders? Alliance initiatives will create industry white papers, develop best practices initiatives, test proof of concepts - and ultimately shape the future of payments.

Current Initiatives

In June 2018 the Alliance leadership and staff will initiate a call for participants to solicit member volunteers to work on the projects below. Calls will begin in July 2018 to set the scope of the projects. 

Playbook for Faster Payments

This group will create an easy to use reference tool for all participants to use when examining a faster payments strategy. The playbook should start with asking “What are you looking to do?” and then provide direction on topics such as products, services, internal and external customer communications, strategy development and more. It was suggested the scope should include all payments. This would be a living document that could be kept on NACHA’s Faster Payments Resource site.

Cybersecurity Response Plan/Checklist

A tool that will provide organizations a list of question/topics they should address before/during/after a cyberattack. This would include a list of resources.

ACH Quick Start Guide

The Quick Start Guide will provide information presented in an easy-to-understand language that relates to the corporates processes and needs. Project team would first break this down into smaller pieces (i.e., B2B Payments, B2C payments). The group would decide what the first case study should be and, once a project team is formed, decide what type of deliverable this will be.

ISO 20022 Toolkit 

A piece that will help users understand the A-to-Z of ISO 20022 – capabilities, time lines, functionality and more for those who may need assistance while preparing for the changes coming to ISO 20022.

Initiatives Underway

API Standardization Industry Group

Additional Group details and sign up link 

This diverse group includes leadership from financial institutions, fintech companies, businesses, service providers, standards organizations and others. Its mission will be to further efforts to standardize the use of APIs in the U.S. financial industry. 

To that end, the main goal of the API Standardization Industry Group will be to develop an “API Playbook.”  The “Playbook” will serve as a tool to assist financial institutions, businesses, fintech companies and other industry stakeholders with the creation of a standardized API ecosystem that can enhance support of the payments and business needs of industry participants.


Background

Many payments providers and leading financial services firms have been using APIs to broaden and enhance services, increase automation and strengthen security. But without standardization these businesses and financial services firms cannot reap the full the potential of APIs. API standardization can help improve the safety and transparency of transactions, increase efficiencies and speed of communications, and enhance support of payments innovations.

In an environment where speed, automation, security and reach are key drivers for business decisions, now is an excellent time to explore how API standardization can benefit the payments ecosystem and advance the financial services industry

 

 

Staff Lead: Kathy Levin, Senior Director, NACHA 

 

 

 

Don't See an Initiative that Interests You? More Initiatives will be added soon.

     

    Project Team News

    Project Team Kickoff Calls
    We will be scheduling calls for the new Project Teams starting in July. You will receive dial-in information for the project teams call you signed up for.