NACHA, the Herndon, Va.-based electronic payments association, has joined the Interactive Financial eXchange Forum and intends to participate in the forum’s Liaison and Interoperability Working Group, which launched this spring to help achieve interoperability in external standards and communications.
“The use of XML standards is creating new opportunities for the adoption of electronic payments and remittance,” George Throckmorton, NACHA managing director for advanced payment solutions, said in June 21 press release announcing the move.
NACHA, a not-for-profit association that represents nearly 11,000 American financial institutions, manages the automated clearinghouse system.
The association could become one of several new members, Richard P. Urban, president of the Wakefield, Mass.-based group, said in the release.
“I invite any organization that has an interest in furthering the interoperability of banking standards to join,” Urban said.
Members of the forum, founded in 1997, include financial institutions, hardware, software and service firms, and related nonprofit groups, the release said.
The forum’s working groups are ATM/point of sale; branch banking services, business banking, card management and servicing, and liaison and interoperability, according to the release.
