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Nacha group collaborates with Faster Payments Council on educational platform

Nacha, the nonprofit organization behind the ACH Network, and its Payments Innovation Alliance have announced a collaboration with the U.S. Faster Payments Council to develop the Faster Payments Playbook, an educational and online decisioning platform to help financial institutions — including banks, credit unions and other providers — to develop a faster payments strategy.

According to a press release, the first iteration of the Playbook will focus on credit unions, community banks and regional banks, followed later by a separate version for business end users.

"The Alliance brings together a diverse group of industry leaders to gain insights and develop resources for the industry to use to navigate the quickly changing financial services environment," Nacha chief operating officer Jane Larimer said in the release.

She said that the Faster Payments Project Team, which was formed in June 2018, has been working for almost a year to develop Faster Payments resources, including the Playbook.