D3 Banking Chief Product Officer and Vice President of Product Ownership Christina McGeorge is the latest member of NACHA’s API Standardization Industry Group, the companies said Wednesday (June 28).
Created earlier this year, the Group aims to develop an API standardization “playbook” to help FinTechs, banks, businesses and other industry players in their development and use of APIs in the financial services sector. The Group will focus on security, transparency and efficiency of solutions built and enhanced via APIs to promote real-time payments.
“The very nature of digital banking is real-time communication, something the financial services industry is quickly embracing,” said McGeorge in a statement. “Five years ago, as we started to build the D3 Banking platform, we committed to using open APIs within our architecture. So, I know firsthand how powerful of a tool they can be, as I have seen our customers reap the benefits of this flexible infrastructure.”
“I’m excited to collaborate with other industry influencers, leveraging our various backgrounds and perspectives, to work toward making payments and banking more secure, open and efficient with APIs,” the executive added.
NACHA recently released a summary report from its inaugural meeting held last month with 40 professionals from 30 organizations. According to the report, while APIs promote security and efficiency, adoption remains slow, especially in the U.S.
“API standardization can have a transformative effect on the financial services industry,” said George Throckmorton, managing director of network development at NACHA and API Standardization Industry Group lead, earlier this month. “Our work is really just beginning, but we are excited to share the outcomes of the inaugural meeting. We look forward to keeping the industry informed of progress as we move forward.”
The next meeting for the Group is in August.
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