The process approach to NRQM offers a fourth framework for the quantization of physical systems. Unlike the standard approaches (Schrödinger-Heisenberg, Feynman, Wigner-Gronewald-Moyal), the process approach is not equivalent to NRQM and is not merely a re-interpretation. The process approach provides a dynamical completion of NRQM. Standard NRQM arises as a asymptotic quotient by means of a set-valued process covering map, which links the process algebra to the usual space of wave functions and operators on Hilbert space. The process approach offers an emergentist, discrete, finite, quasi-non-local and quasi-non-contextual realist interpretation which appears to resolve many of the paradoxes and is free of divergences. Nevertheless, it retains the computational power of NRQM and possesses an emergent probability structure which agrees with NRQM in the asymptotic quotient. The paper describes the process algebra, the process covering map for single systems and the configuration process covering map for multiple systems. It demonstrates the link to NRQM through a toy model. Applications of the process algebra to various quantum mechanical situations -superpositions, two-slit experiments, entanglement, Schrödinger's cat -are presented along with an approach to the paradoxes and the issue of classicality.