American Banking Association (ABA) number is also known as the bank routing number, which is a code that consists of nine digits
How did ABA number originate?
It all started more than 100 years before; to be specific in 1910, the American Bankers Association began introducing ABA number for identifying all the payment issuing banks. In other sense, it is a unique identifier of each payment issuing financial institutions. It is the process of ABA number introduced to reduce the confusion regarding paper checks processing. During those times, paper checks were a common form of cash transaction.
ABA number has evolved now the basis for Federal Reserve Process and even for more modern types of electronic payments.