How to Join
the IFX Forum | Become a member!
| If your organization would like to become a member of the IFX Forum, write to membership@ifxforum.org. You will receive a set of materials in response: the Forum Bylaws and Membership Rules for your reference, the Membership Application, and a Membership Letter customized to your organization. To join, just fill out and sign the Application and Letter, and return them to the address noted. You'll then receive a dues invoice, and all privileges will begin as soon as payment is received.
Information about membership is available here.
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The Value of
IFX Forum Membership
| Download a benefits presentation
| To help organizations understand the benefits of participating as a member of the IFX Forum, we offer a brief PowerPoint presentation. You can download it from the link on our home page.
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| "Introduction to IFX 2.X" | An audio presentation
| Download the "Introduction to IFX 2.X" session, at no charge: four PowerPoint presentations with sound, each lasting 20-30 minutes.
Instructions for downloading and accessing the narratives are posted with the files.
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| IFX in HTM, CHM and now PDF Formats | A members-only benefit
| If your company is a member of the IFX Forum, you can download IFX 2.2 as an HTM or CHM (Microsoft's Compiled Help Format) or PDF file from the members-only website. These files contain all the material of the latest version of the specification, IFX 2.2. New with 2.2 is the addition of the PDF option. If you have any questions, send a message to Judith Vanderkay, info@ifxforum.org.
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Welcome to the IFX Forum Newsletter!
This newsletter brings you periodic news and updates about the IFX specification and the activities of the IFX Forum. Past issues of the newsletter are also on our website. If you have a story you would like to share, a question about an article, or a topic you would like to see covered, please write to info@ifxforum.org.
Don't miss Forum President Rich Urban's article about Remittance developments in this issue -- linked at left.
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 | IFX Version 2.2 Released!
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The IFX Forum has just published Version 2.2 of IFX, and it is available at no charge at http://bms.ifxforum.org/. Members may also access the specification in .pdf, .chm and .htm files -- see article at left.
The enhancements in IFX 2.2 expand the applicability of IFX to new scenarios and situations, such as mobile and Internet banking, making it more flexible and useful for financial services in the 21st century. Operational improvements and some corrections to existing material were also made.
Important extensions to IFX in Version 2.2 include:
- Marketing support, such as features for incorporating and tracking marketing campaigns and offers
- Valuable specific additions, such as provisions for recurring payments and issuing alerts to account holders
- Administrative enhancements, such as loss tracking and support for card inventory management
- Provision for parent-child account-to-account relationships
- Added functionality for account pricing, delinquency tracking, and portfolio segmentation of customers and accounts
"IFX 2.2 is a significant release," said Richard P. Urban, President of the IFX Forum. "Our Working Groups, particularly the Cards Management and Servicing group, and Architecture Committee have put in a great deal of time and effort to augment the specification with meaningful content. Continued development of the IFX specification further enhances the benefits of joining the IFX Forum."
IFX 2.2 continues the Forum's commitment to a business-first, service-oriented approach to standards development. Hundreds of organizations worldwide have used IFX, representing -- as does the IFX Forum membership -- a cross-section of the worldwide financial services industry. IFX adopters range from large multinational corporations to small focused companies and self-employed consultants, from banks to vendors to service providers, from all regions of the globe.
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| IFX Forum Signs MoU with X9
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The IFX) Forum and the Accredited Standards Committee X9 X9 have signed a Memorandum of Understanding (MOU) related to coordination on the development of the Extended Remittance message in ISO 20022. X9 is an ANSI-accredited financial standards developer and the U.S. Technical Advisory Group to ISO TC68 holding the U.S. vote on ISO TC68 -- Financial Services and various subcommittees.
"The IFX Forum has always been committed to collaborating in the development of international standards. In addition to recent initiatives, the Forum is a Category A Liaison to ISO TC68, and we co-founded the IST Harmonisation team to work on key payments standards for inclusion in the ISO 20022 repository," said IFX Forum President Richard P. Urban. "We are very pleased to engage with X9 to further the Extended Remittance work. This MoU opens the way for more direct participation between the organizations on this important industry-wide effort."
To learn more about this MoU, read the press release. |
| REGISTER NOW: 2012 Annual Meeting and Elections, April 30-May 2 in Minneapolis | |
The IFX Forum will hold its 2012 Annual Meeting, which includes Board of Directors and Officer elections, April 30-May 2 in Minneapolis, Minnesota, USA, at a U.S. Bank facility. For a detailed agenda, hotel information, and to register, use the link on our home page.
The meeting kicks off on Monday afternoon with "Introduction to IFX" -- an overview session about IFX Version 2. Additional highlights of the meeting will include hands-on sessions of the Forum's working groups, including the first face-to-face meeting of the new Loans Working Group (see article above), and plenty of opportunities to network with Forum members.
If your company is considering membership, attending a face-to-face meeting is an excellent way to "test-drive" the Forum: you'll be able to meet the organization's leaders and other members, engage in discussions about the content and use of IFX, and find out firsthand the value of participation. The $695 meeting fee is put toward the first year's dues if your company joins within 60 days.
Questions? Send email to Judith Vanderkay, info@ifxforum.org.
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| Developments in Standardizing Electronic Payment Remittances
-- Article by IFX Forum President Richard Urban in NACHA's Global Insights Newsletter, January 2012
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 In mid-October, I had the pleasure of attending the Global Payments Forum and sharing my perspective on the state of standardization for electronic payment remittances. In this article, I recap and expand upon some of my key points, and review how standardization efforts are progressing.
Payment remittances have long defied standardization. To get a taste of the difficulty, type the phrase "EDI remittance implementation guide" into your search engine. Note how many interpretations of that single standard require dozens of pages to describe. In my remarks in October, I highlighted some of the reasons for so many definitions. The reasons include variability of data among industries, the pertinence of specific data elements to only certain businesses, differences in the amount of detail desired by businesses, and ambiguity in terminology. These factors relate to the issue of requirements. Adding industry, business, and personal preferences further clouds the standards development arena. Read more.
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IFX Forum Newsletter