As technological innovation continues to reshape the payments industry, APIs are becoming a prominent feature of the landscape. But as APIs become a facet in the payments industry, so does the need for API standardization and common practices. Such a framework is necessary for innovation and growth to continue at a quick pace. Therefore, Nacha is leading the industry effort on API standardization.

Afinis brings diverse collaborators together to build and test solutions, develop implementable and portable standards, and provide thought leadership on the shared goals of advancing efficiency, surety and security, and interoperability for financial services.

Afinis announced today it has partnered with XMLdation to enable its stakeholders to leverage the Finland-based company’s testing capabilities within Afinis’ developer portal.

Published in PaymentsJournal on August 13, 2019 If you keep up with the payments industry, you’re bound to have heard about APIs. It seems like every day brings fresh articles covering the newest APIs in glowing terms. From improving digital banking to facilitating Same Day ACH payments, APIs are having a major impact on payments and the wider financial industry. But what are APIs and how exactly are they changing the payment ecosystem? APIs 101: a crash course on communication API stands for application programming interface.

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Nacha is leading the industry effort on API standardization. To accomplish this objective, Nacha supports Afinis Interoperability Standards, a membership-based governance organization that brings together diverse collaborators to develop implementable, interoperable, and portable financial services standards.

Afinis Interoperability Standards members will meet July 9-10 in Atlanta for a Program Increment (PI) Planning Meeting to review the group’s latest work efforts and identify new initiatives and goals for the second half of 2019.

First our salary is direct deposited, then we pull out our smartphone to pay bills. Who still writes a check? But while electronic payments have largely taken over among consumers, those pieces of paper still hold their own when it comes to business-to-business (B2B) payments. Strange as that might seem in 2019 there are valid reasons. B2B involves a lot more than “give me your bank account and routing numbers and we’re set.” Company A has this way of billing and receiving payments while Company B uses another system. And don’t even ask about Company C.

Afinis Interoperability Standards, a new member-led organization supported by NACHA, announced its inaugural Board of Directors and Board Officers.

Bill Sullivan, Nacha’s Head of Government & Industry Relations was back on Capitol Hill meeting with House and Senate staff with an eye towards the November mid-term elections. Meetings included a myriad of topics including, but not limited to, the API work of ASIG, the Alliance work on faster payments and the proof of concept work on B2B directories. November’s Congressional elections may bring changes to Senate Banking and House Financial Services Committee leadership.