What does the Afinis announcement mean for IFX members?
Current and renewing members of the IFX Forum are automatically members of Afinis Interoperability Standards. Organizations whose membership in IFX is renewing through year-end 2018 will renew at the current dues amount. As renewals occur in 2019, they will occur in alignment with the Afinis membership dues fee schedule, which is similar to the IFX dues structure.
The IFX Forum Charter remains unchanged, with the exception of the name change to Afinis Interoperability Standards. Members of the IFX Governing Board will be joined by leaders from ASIG to serve as an interim Governing Board that will convene later this year. Under their leadership, a permanent Afinis Governing Board will be formulated and elected early in 2019.
As a member of IFX, your member benefits have broadened to encompass the full breadth of what Afinis Interoperability Standards has to offer.
What about the IFX Specification?
Nothing changes. Our commitment to the IFX standard continues under Afinis. Your access to the Business Message Specification (BMS) is unchanged whether you are a Member or Subscriber or have been accessing the BMS as a Guest.
When NACHA and IFX Forum announced the Strategic Combination Agreement earlier this year, both organizations made clear that our shared belief is that the combined competencies and reach of the IFX Forum and ASIG provide for synergies and strengths to enable us to more fully support financial services innovation and efficiency. As the governing body in the U.S. for standardized APIs and other standards (IFX v1.x and v2.x), we will define API standardization via broad and inclusive global member participation while continuing to support the IFX standard. Using the latest technology to address the business needs of the financial services industry, through Afinis we will:
- Ensure consistent strategy, definition, development, review and maintenance of standards and guidelines for usage of the APIs
- Coordinate and manage versions
- Work with the industry to achieve interoperability
- Develop, update and review the relevant security, data and technical guidelines for the API usage on an ongoing basis
- Respond to needs for other standards as they arise
Afinis is all about Interoperability Standards and that has been a key part of the IFX Forum heritage as well. Capitalizing on our organizations’ combined heritage of focus on interoperability, rules and standards, we will accelerate innovation and strengthen the development of standardized APIs and other financial services standards in areas where standards adoption brings efficiency and innovation to diverse, global stakeholders.
Read more about Afinis Interoperability Standards here.