Question

The ACH network originated as a research project by the and with some help from Georgia State University in the late 1960s.

a. Boston Fed; MIT
b. San Francisco Fed; Stanford Atlanta
c. Fed; Georgia Tech
d. New York Fed; NYU

Answer 1

The ACH network was initiated as a project by the Boston Fed and MIT with support from Georgia State University in the late 1960s, making option (a) the correct answer.

The ACH network originated as a research project by the Boston Fed and MIT with some assistance from Georgia State University in the late 1960s. The correct answer to the question is option a. Boston Fed; MIT. The ACH, which stands for Automated Clearing House, is an electronic network for financial transactions in the United States which facilitates the processing of large volumes of credit and debit transactions in batches. Its development was a significant milestone in the evolution of electronic payments.