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NACHA, FINASTRA and Ripple=Checkmate

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DISCLAIMER:

In full disclosure, a large amount of this post is a copy and paste job due to wanting to explain and clarify the organization and its objectives. Just a warning, this is a long read so if you can stay awake and bear with me, hopefully the end result isn't TLDR lol. 

NACHA was previously referred to as the National Automated Clearinghouse Association, and is now commonly known as the Electronic Payments Association.

Per their own website https://www.nacha.org/

they were "originally conceived of and created by collaboration among several ACH(automated clearing house) Associations in 1974, NACHA has evolved from a set of ACH rules and regulations to the Network governing body it is today. Throughout all of our growth, the safety and security of electronic payments has always been the first priority.

The Electronic Payments Association is the steward of the ACH Network – one of the largest, safest and most reliable payment systems in the world. The ACH Network creates value and enables innovation by universally connecting all U.S. financial institutions, and moving money and information directly from one bank account to another.
 
NACHA’s self-regulatory work through the NACHA Operating Rules, as well as its leadership and engagement of wide-ranging Network participants, has helped make the Network ubiquitous, while still evolving its capabilities over time. NACHA administers and facilitates private-sector operating rules for ACH payments, which define the roles and responsibilities of ACH Network participants.

As a not-for-profit association, the organization works with others to support and bring the payments industry together in a variety of ways. Through the Payments Innovation Alliance[PIA], accreditation programs, conferences and educational offerings, NACHA unites payments systems stakeholders, fostering dialogue and encouraging the use and evolution of electronic payments.

The association also brings together diverse organizations to develop rules and standards to benefit a variety of payments ecosystem participants, including Electronic Benefits Transfer (EBT), and healthcare Electronic Funds Transfer (EFT) and other industry groups. By collaborating with other standards organizations and geographies, NACHA facilitates compatibility and integration with U.S. payments. 

The purpose of NACHA – The Electronic Payments Association is focused in two ways:

The ACH Network enables end users to easily make payments through a high-quality, ubiquitous payment system that securely and efficiently moves money and information directly from one bank account to another.

NACHA enables financial services industry stakeholders to shape and benefit from common rules sets and standards for ACH and other transaction types through its expertise in convening diverse parties in rulemaking, standards development, governance and education."

"The Alliance is a membership group that encourages industry dialogue and collaboration to help advance domestic and global payments. As an inclusive voice for the payments industry and the ACH Network, the growing body consists of more than 200 companies and organizations from throughout the payments ecosystem and from around the world. The Alliance brings together diverse stakeholders to support payments innovation through discussion, debate, education, networking and special projects. Areas of focus include payment system modernization, technology trends, standards, security and ongoing innovation."

"The Alliance provides interactive knowledge exchange at its best -- among industry leaders, senior level executives and payments professionals who are committed to shaping the future of payments.

A key benefit of The Alliance is the myriad opportunities it provides to collaborate with your peers throughout the year. The Exchange, an online member community, features online discussions among members, provides access to thought leadership documents such as white papers, and more."

The PIA published a whitepaper discussing various topics and a company we all know and love was mentioned in it.

Screenshot_2018-04-22-21-54-23-1.thumb.png.e4cc917953c3a280cc21c7826944ebe4.png

 

If you have actually read everything up to this point you are mostly likely thinking to yourself "why have I wasted so much time reading this?" Here's why...listed on the list of preferred partners for NACHA is Finastra.

Screenshot_2018-04-22-22-43-02-1-1.thumb.png.655b6b618da0d59ce8aef6dcb13974ec.png

Per their own website...

Screenshot_2018-04-22-22-50-52-1.thumb.png.7e2cde331a3cbb2ed60d370fec285b98.png

So, great theres another huge corporation, but what's the big deal? Well we have this...

Screenshot_2018-04-22-22-36-02-1.thumb.png.5a8f12edbd94b3ff29378a5f872ec287.png

 

Much like with Bain and Company, there's multiple very large, influential companies whom Ripple has relationships with. I mean Finastra has 48 of the top 50 banks in the ENTIRE world as customers and they have a partnership with Ripple! For those of you with any doubts about the success of this company, I have two words for ya....GAME OVER.

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3 minutes ago, OzAlphaWolf said:

NACHA also recently partnered with Accenture to work on standardising payment APIs. Accenture is also a Ripple partner and of course one of Ripple's goals is progressing interoperability. 

https://www.pymnts.com/api/2018/nacha-accenture-api-developer-asig-payments-standardization/

Nice find man! Oz, at this rate it's almost like do we really need to research anything anymore? It's just a matter of when not if Lol

Edited by Guest

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Thankx for the great read! It's obvious we are betting on the dark horse, and in time WE will be rewarded. What still is freaking my mind is that recent growth or Ripple has nothing to do with the above. It's pure speculative behaviour of the crypto market. Look at the growth of BCH and fe. Bytom and Zilliqa..... people still are trying to bet on other coins for the quick bucks.

If you´d ask me, we deserve to be way above our ATH from Jan. just for the cause of what Ripple labs has achieved comparing to vague other alts, but we are not (not yet).

My conclusion: this market is still full of people trying to get rich overnight, having no clue at all where they are investing in, but sometimes get very lucky to buy random pump and dump coins.

For our sake, it would be good if SBI and other partners started using XRapid/XRP big scale, to set us off to the range we belong to: no.1 on cmc/lcw. Everybody's saying that cmc/lcw is irrelevant for XRP. It may be in the future, but for now it seems to be one of the most important instruments that people use to decide where to put their money on.

 

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1 hour ago, DutchPanda said:

Thankx for the great read! It's obvious we are betting on the dark horse, and in time WE will be rewarded. What still is freaking my mind is that recent growth or Ripple has nothing to do with the above. It's pure speculative behaviour of the crypto market. Look at the growth of BCH and fe. Bytom and Zilliqa..... people still are trying to bet on other coins for the quick bucks.

If you´d ask me, we deserve to be way above our ATH from Jan. just for the cause of what Ripple labs has achieved comparing to vague other alts, but we are not (not yet).

My conclusion: this market is still full of people trying to get rich overnight, having no clue at all where they are investing in, but sometimes get very lucky to buy random pump and dump coins.

For our sake, it would be good if SBI and other partners started using XRapid/XRP big scale, to set us off to the range we belong to: no.1 on cmc/lcw. Everybody's saying that cmc/lcw is irrelevant for XRP. It may be in the future, but for now it seems to be one of the most important instruments that people use to decide where to put their money on.

 

Agreed . I don’t think we ll get value investors trading fundamentals until the big FIs and Wall St come in .

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2 hours ago, DutchPanda said:

For our sake, it would be good if SBI and other partners started using XRapid/XRP big scale, to set us off to the range we belong to: no.1 on cmc/lcw. 

I think this will happen within the next 2 months when Rippled v1.0.0 is launched.

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