X9 Seminars

X9 Seminar – Presentation on APIs by George Throckmorton of NACHA

X9 Seminar – Presentation on APIs by George Throckmorton of NACHA

API stands for “Application Programming Interface”.  It is what a programmer needs to be able to write a program for a PC or application for a smart device so it can communicate with another program.  When used in the world of financial services, APIs can be defined and published by financial institutions (FIs) so that software companies can develop programs that interface to the functions provided by the FIs.  In the past, these functions could only be accessed using proprietary software or web sites provided by the FI.  These functions include online banking services and in some cases access to back office functions.  Once an API is published, any software company can write software to access the functions defined by the API.  For example, if all banks agreed to use a common API for online banking, one application written to support this API could be used to contact any bank or multiple banks if a customer had accounts at several banks for online banking.  In Europe, banks are required by a regulation known as PSD2 to use a common API for online banking in 2018.  The United States has no such requirement but groups such as NACHA are working to standardize APIs for FIs.

George Throckmorton has created a group called “API Standardization Industry Group” (ASIG) to standardize the use of APIs in the U.S. financial industry.  X9 is a member of this group.  George will be presenting an introduction to APIs, some security concerns about APIs and an overview of the work of ASIG.

Mr. George M. Throckmorton serves as Managing Director of Advanced Payment Solutions at NACHA – The Electronic Payments Association. Mr. Throckmorton served as Group Manager of Advanced Payment Solutions and Senior Director of NACHA – The Electronic Payments Association. Prior to joining NACHA, Mr. Throckmorton served as America’s Marketing Manager for ACI Worldwide and as Small Business Product Manager for Corillian Inc. He has 22 years of banking and financial service experience.

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X9 Seminar Information:

Date: Thursday September 7, 2017
Time: 12:00 noon EDT – 1:30 PM EDT
WebEx information will be emailed no later than the end of day on September 6, 2017 to people that register below.

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