%% Begin Waypoint %% - **[[ACH - Automated Clearing House]]** %% End Waypoint %% - FedNow - uses ACH Express rails - Zelle is tha same thing but has some overhead on implementation - The big private rails were started by the big 10 banks - BSA and Patriot act apply to laundering money and private ATMs - Private ATMs are interesting. As long as you get a private settlement service that will take the transactions and get the money - These services get the files, format to ACH, then send to an institution to originate it - Banks and CUs can see privately owned ATMs - Tools like Verifin are good at picking out where these are - Open Banking - More about sharing data - Integrations and being able to move accounts, share data about transactions - Compatibility with other financial institutions - There are regulations that set up the format for it - They sent out a request for who's going to set up the clearing house - Core examples - DNA - Oracle database - All the connections are SQL connections and APIs - Little to no SQL in DNA database - Proprietary example - Access control is limited using some number system per screens - Formance - Open source financial core -