--- title: "Does Your Industry Need a Well-Considered API Strategy?" id: "38722" type: "post" slug: "does-your-industry-need-a-well-considered-api-strategy" published_at: "2017-06-28T21:43:42+00:00" modified_at: "2026-11-09T16:18:04+00:00" url: "https://associationsnow.com/2017/06/28/does-your-industry-need-a-well-considered-api-strategy/" markdown_url: "https://associationsnow.com/2017/06/28/does-your-industry-need-a-well-considered-api-strategy.md" excerpt: "The financial industry group NACHA is working with dozens of industry stakeholders to create a long-term plan for introducing an API for the ACH network. Thinking of building an API for your industry’s needs? Take notes." taxonomy_category: - "Advocacy" taxonomy_post_tag: - "AssociationsNow" - "payment APIs" - "standardization" - "Technology" taxonomy_content_format: - "Article" taxonomy_role: - "Association CEO / Executive Director" - "C-Level" - "Director" - "Executive Team" - "VP" taxonomy_persona: - "Industry Professionals" --- [Home](https://associationsnow.com/) » [Articles](https://associationsnow.com/format/article/) » Does Your Industry Need a Well-Considered API Strategy? How do you get a highly technical, highly niche industry on the same page so everyone works together? If you’re [NACHA (opens in a new tab)](https://www.nacha.org/) , the association that represents the automated clearinghouse (ACH) network that banks rely upon, you introduce a discussion around application programming interfaces, or APIs. Since early this year, NACHA has been working on a collaborative approach to standardize how the industry allows technology to interface with the network. [The association launched its API efforts (opens in a new tab)](https://www.nacha.org/news/nacha-announces-completion-exploratory-effort-accenture-api-standardization-us-financial) in earnest with Accenture in February. It’s certainly an interesting approach, but it is not necessarily easy to get everyone on the same page. The association had been researching the strategy for months before finally getting it off the ground. In comments to [PYMNTS.com (opens in a new tab)](http://pymnts.com) , NACHA Managing Director of Network Development George Throckmorton noted that the association had to work closely with numerous industry stakeholders because of the existing agreements around the ACH system. “When you think about standardization of APIs, first and foremost, it’s really around the solid, consistent agreements made between participants,” [Throckmorton told the website in March (opens in a new tab)](http://www.pymnts.com/news/b2b-payments/2017/nacha-api-standardization-payments-innovation-alliance-collaboration-faster-payments-financial-services-ach/) . “API technology is not new, but if you have bilateral agreements, it’s very hard to scale.” That led to the creation of a working group this past spring, with the goal of creating basic standards for the banking industry to follow. A[recent meeting summary (opens in a new tab)](https://www.nacha.org/system/files/resources/API-Standardization-Industry-Group-Inaugural-Meeting-Summary-Report-May-2017.pdf) [PDF] released by the group shows that representatives of nearly three dozen organizations and companies—including household names like Visa, Bank of America, and JPMorgan Chase—broke down the basic use cases for such a tool, along with starting points for building out the programmatic tool. The group is still knee-deep in the decision-making process, with two more meetings already scheduled for August and October. “API standardization can have a transformative effect on the financial services industry,” Throckmorton, the committee lead, [said in a news release (opens in a new tab)](https://www.nacha.org/news/nacha-api-standardization-industry-group-identifies-top-categories-use-cases-standardization) . “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.” (iStock/Thinkstock) [Ernie Smith](https://associationsnow.com/author/ernie-smith/) Ernie Smith is a former senior editor for Associations Now. [More articles by this author](https://associationsnow.com/author/ernie-smith/) Tags: [#payment APIs](https://associationsnow.com/tag/payment-apis/) [#standardization](https://associationsnow.com/tag/standardization/) [#Technology](https://associationsnow.com/tag/technology/) **Stay Informed** [Subscribe to our free newsletter](https://associationsnow.com/newsletter/) , *Associations Now Daily News*, to find out what’s happening in the association world every business day. ## You Might Like - [VideoUrban Land Institute- Project Recovery: Rebuilding Los Angeles After the January 2025 WildfiresSeptember 24, 2026](https://associationsnow.com/2026/09/24/urban-land-institute-project-recovery-rebuilding-los-angeles-after-the-january-2025-wildfires/) - [PodcastAssociations Now Presents: Beyond the Tech Stack: How AI Is Changing the Association PlaybookOctober 29, 2026](https://associationsnow.com/2026/10/29/associations-now-presents-beyond-the-tech-stack-how-ai-is-changing-the-association-playbook/) - [VideoThe Career Moves Every Association Leader Needs Right NowSeptember 24, 2026](https://associationsnow.com/2026/09/24/the-career-moves-every-association-leader-needs-right-now/) - [VideoNCRA: Safeguarding Cancer Surveillance: An Advocacy Response to FY26 Budget ThreatsSeptember 24, 2026](https://associationsnow.com/2026/09/24/ncra-safeguarding-cancer-surveillance-an-advocacy-response-to-fy26-budget-threats/) ## Comments **Comments are for ASAE members.** [Learn more about comments on this site.](https://associationsnow.com/comments/) [Log in](https://associationsnow.com/login?redirect_to=https%3A%2F%2Fassociationsnow.com%2F2017%2F06%2F28%2Fdoes-your-industry-need-a-well-considered-api-strategy%2F%23comments) to your member account or [join ASAE](https://my.asaecenter.org/select-a-membership-type/) !