Developing system solutions:
- Chicago Clearinghouse for payments between banks EDIBANX
Leading a team of programmers/developers, using UNIX, C, and GenTran’s EDI custom interbank payment clearing systems were provided to meet the stringent demands of The Federal Reserve Bank of Chicago.
EDI Bank Alliance Network Exchange (EDIBANX) is an electronic data interchange (EDI) payment resource designed to supplement the services of traditional automated clearinghouse (ACH) payment networks. EDIBANX is nonprofit and owned by 13 participating banks and operated by the Chicago Clearinghouse Association. EDIBANX, unlike ACH, can provide confirmation and proof of payment to payers. Furthermore, EDIBANX is the only payment network that relies on original American National Standards Institute X12 formats.
EDIBANX was created to address the growing financial electronic data interchange (EDI) market, which experts estimate will be a $3 billion market by 1997, and its impact on the payments business.