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.
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
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