jslampe

Free tool for those in ADO

This article woefully undersells this development. As of today, Australia is the proud new owner of the world's most advanced payment system. This thing has it all, central directories, fraud sharing services, and an infrastructure BUILT for access by the private sector. There's some governance items and constraints here and there, but otherwise this is insanely advanced.

Agreed. What this article doesn't mention is that the NPP is now the world's most sophisticated payment system. The things this thing can do is insane.

No, the NPP is a backend settlement infrastructure used by the central bank. Zelle would be an example of an overlay service, utility or interface to engage with the settlement system. The Clearing House's RTP, UK's FPS, or Singapore's FAST would be more akin to the NPP. NOTE: Zelle is not currently using RTP, but will likely use it in the coming months or years.

See: craigslist

I believe he was being facetious.

Like the channel 4 news gang, our good friends at Demand Progress have officially re-assembled the ol' gang to relaunch, "Battle for the Net" (www.battleforthenet.com), today. This is the same team that helped spearhead the 2015 campaign that successfully changed Chairman Wheeler's mind to protect the Internet as a Utility. They've already collected over 800 startup signatures (including our own) and is now gearing up for an intense war with Trump's administration and the ISP heavyweights.... again.

I can appreciate the concerns some have voiced, but there's two main arguments for this approach.

1. It's better than what we have today. 2. PSD2 is standardizing and increasing access to financial data, making the entire ecosystem more competitive.

Regarding #1: I understand the concerns regarding privacy and security, but this injects a whole new range of improvement that quite honestly we don't have today. Unlike many countries that have rendered their bank account number useless, the US has not. Today, we all provide our bank account numbers to a variety of companies (our jobs for salary, rent, etc.) via a direct credit or debit authorization form to a third party. The proliferation of Private Account Numberss in the digital age is exactly what's makes them such a high-value target for criminals. A digital authentication and authorization approach allows us to set parameters around authorization, rotate keys, create programmatic constraints, inject real-time security, and a number of other consumer controls (e.g. remove authorization for that annoying magazine company that charges me every month for that Better Homes and Gardens magazine I never ordered). This can all be done without providing the level of access we and banks provide on our behalf every day.

Regarding #2: Banks are great at a number of things, like holding and securing our money. They're terrible at responding to market forces or consumer concerns. Instead, they use the mountains of red tape and regulation to fortify themselves from new market entrants. Greater, more open access to financial information levels the playing field; thus, increasing both innovation and better pricing for all.

TL;DR - this is way better than what we have today.

This guy gets it.

Dwolla | Cloud Systems Engineer | Des Moines, IA | Full Time | Onsite | https://www.Dwolla.com/

We care about mastering the ideal way to move money. At Dwolla, we empower our engineers to select the right languages, tools, and libraries for the job and deliver products based on those choices. If you want to become of a master of your craft while building something that matters, Dwolla may be right for you.

We've been growing quickly and we're looking to hire a Cloud Systems Engineer!

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100% agree, but there are some exciting banks out there doing innovative things (e.g. BBVA, Santandar, US Bank, Fidor, Silicon Valley Bank). There future of Open Banking is coming... It's just not here yet and I wouldn't hold your breath.

In the meantime...

Work at Dwolla. What us and others, like Plaid, have done is taken these partnerships, resources, compliance requirements, etc. and smashed them into endpoints, creating [hopefully] something you're looking for. Our White Label and co-branded APIs (https://developers.dwolla.com/). A quick list.

Create Bank Transfers - Yes Know Your Customer Verification - Yes Sandbox - Yes Bank account verification - Yes Webhooks - Yes Oauth - Yes (Co-branded only) Create Customer Records - Yes (White Label only)

Reach out to [email protected], if you think we can help to. (While we don't work directly with Plaid, we can be complimentary).