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About the Forum

Board of Directors | Committee Structure | Membership List

IFX Forum Overview

The Interactive Financial eXchange Forum was formed in 1997 to create a messaging standard for financial services that would address the challenges faced with the advent of network-based computing models. Based on the work previously done by the Open Financial Exchange (OFX) and IBM/Integrion GOLD standard, the Forum proceeded to re-invest all of the knowledge gained from those standards to design a next generation XML standard that would be usable in many types of environments, extensible to cover many types of financial transactions and globally focused in recognition of the increase need to communicate around the world.

The IFX Forum membership is made up of industry leading financial institutions, service providers and independent software vendors, who all believe in the process of open, industry driven standards creation. Membership is open to anyone interested in contributing to the development of open financial standards.

IFX Forum Organization

The IFX Forum is governed by its Board of Directors and is organized into Committees and Working Groups.

The Steering Committee

The Steering Committee acts as the executive body of the IFX Forum Board of Directors. It provides the leadership, structure and process for the development, promotion, use and adoption of the IFX business requirements and message specifications.

Appointments to the Steering Committee are made by the IFX Board of Directors.
The Steering Committee will establish key objectives for the Forum each year.
The Steering Committee approves formation of working groups and project proposals.

The IFX Forum Architecture Committee

The Architecture Committee ensures that the family of IFX specifications is consistent, efficient and easy-to-implement. Working to coordinate the various industries affected by financial transactions, the Architecture Committee unites the myriad of requirements to provide one common solution between and among various industries interacting in the financial environment. More specifically, the Architecture Committee:

Reviews new IFX Forum initiatives
Provides coordination between the IFX Forum's Working Groups, which define interindustry requirements
Maintains the most current version of the IFX specification
Ensures interoperability of new enhancements with the IFX specification
Enables IFX specification implementation into new industries

The IFX Forum Working Groups

To further expedite efforts to develop the IFX specification, the Forum established Working Groups to develop parts of the specification document that applies to a specific sector of the industry. The Working Groups define the business requirements for the IFX specification and recommend processes for adoption and implementation.

The IFX Forum is currently organized into the following Working Groups:

ATM/POS WG
Electronic Bill Presentment & Payment WG (inactive)
Business Banking WG
Web Services WG (inactive)
Branch Banking Services WG
Card Management & Servicing WG

If you are interested in getting more information on these Working Groups, please contact the chairs of each group.