4 ms·

I have some experience in Fintech. I wrote the translation layer between financial cores and a RESTful API (essentially wrapper logic). D+H, Fiserv, BottomLine,

by megraf 6y ago

I have some experience in Fintech. I wrote the translation layer between financial cores and a RESTful API (essentially wrapper logic). D+H, Fiserv, BottomLine, all provided us integration documentation which allowed us to preform actions (transfer funds between accounts, get balances, etc.) and it wasn't _too_ bad. I do remember one particular core that was surprising difficult. Everything was encoded in EBCDIC. You had to rotate telnet (!) connections depending on the day of the week. There was one person (a man named Earl) who could help you if you had a problem with the continuous stationary documentation (luckily it was scanned). Oh the memories...

vmception 6y ago
rotating telnet connections lol
skunkworker 6y ago
I was amazed to learn how much the US depends on SFTP for ACH. Though if a more instant based system becomes available through the Federal Reserve we could finally get to quicker payments like the rest of the world.
- patrickk 6y ago
  In the EU, SEPA was forced through via legislation[1]. The financial industry had to be dragged kicking and screaming along. [1] https://en.m.wikipedia.org/wiki/Single_Euro_Payments_Area https://en.m.wikipedia.org/wiki/Single_Euro_Payments_Area
  - RedShift1 6y ago
    I didn't realize how lucky we are with SEPA until after having to deal with US banks.
    - rbanffy 6y ago
      And this is why lobby groups should be regulated into good behavior - so that economic interests don't have the power of hundreds of millions of voters.