IFX FORUM LAUNCHES LIAISON & INTEROPERABILITY WORKING GROUP
Efforts Will Focus on Working with Other International Standards Groups
WAKEFIELD, Mass. Feb. 7, 2011 The Interactive Financial eXchange (IFX; http://www.ifxforum.org) Forum has announced the official formation of a Liaison and Interoperability Working Group (LIWG), following approval of its charter by the IFX Forum Steering Committee. The new Working Group is chartered to be a center of expertise within the IFX Forum for interoperability with external standards and communications with organizations that develop them.
The IFX Forum is an international non-profit industry association whose mission is to develop and promote the adoption of its open, interoperable standard for financial data exchange. The IFX Business Message Specification (BMS) is available at no charge at http://bms.ifxforum.org/.
The LIWG will recommend strategies, tactics and content for the IFX standard that advance the goal of interoperability with external standards. The new group will oversee activities such as pilot projects, proof-of-concept projects and submissions to ISO (http://www.iso.org), which will further the IFX Forum's leadership position in the financial services industry. The group will immediately take responsibility for IFX submissions to ISO 20022, where the Forum has several initiatives underway.
"The IFX Forum has always emphasized an international outlook and collaborative approach to standards development, which are becoming increasingly important with the widespread trend toward adoption of ISO 20022 and similar standards, and this new Working Group formalizes that orientation," said Richard P. Urban, President of the IFX Forum. "I urge IFX Forum member financial institutions and other interested companies to join and actively participate in the LIWG, so that we can work together to benefit the global financial community."
Following a period of member recruitment and organizational meetings, the LIWG will hold its first face-to-face meeting at the IFX Forum's 2011 Annual Meeting, which is scheduled to take place during the week of May 1 in Omaha, Nebraska, USA, hosted by ACI Worldwide. Subsequent meetings will take place via teleconference on a regular schedule.
About the IFX Forum
Founded in 1997, the Interactive Financial eXchange (IFX) Forum is an international not-for-profit industry association whose mission is to develop IFX and promote its adoption as an open, interoperable standard for financial data exchange, suitable for use by all sectors of the financial services industry. The IFX Forum also promotes interoperability of industry standards by working cooperatively with other standards organizations and consortia.
Forum membership is open to organizations interested in contributing to the development of open financial standards. Forum members include financial institutions, hardware, software and service firms, and related non-profit groups. The IFX Forum is currently organized into the following Working Groups: ATM/POS; Branch Banking Services; Business Banking; Card Management & Servicing, and Liaison & Interoperability. IFX Forum Working Groups, in concert with an Architecture Committee to coordinate their efforts, develop open Internet-compatible messages for all sectors of the financial services industry. To learn more about IFX Forum standards or the benefits of IFX Forum membership, please visit www.IFXForum.org.
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