MISYS BANKING SYSTEMS AND LINK INTERCHANGE NETWORK JOIN THE IFX FORUM
New Members' UK Bases Bolster Forum's Global Focus
WAKEFIELD, Mass., USA - Oct. 31, 2006 - The Interactive Financial eXchange (IFX) Forum today announced that Misys Banking Systems, a global leader in banking software and solutions, and LINK Interchange Network Ltd., a transaction management company that annually processes more than 2.4 billion secure transactions, have joined the Forum as corporate members. Both firms are headquartered in the United Kingdom.
The IFX Forum is a not-for-profit standards-developing organization working to develop a robust framework for the electronic business-to-business exchange of data among financial service institutions around the world.
"I am pleased to welcome Misys and LINK to the Forum," said Richard P. Urban, President of the IFX Forum. "Their participation in the Forum affirms our international focus: the strong presence Misys holds in 120 countries will help us reach thousands of additional banks and other organizations around the world, and LINK's expertise in high-volume transaction switching in the UK will enhance our standard's applications."
"We pride ourselves on keeping at the forefront of the banking technology industry," commented Peter Gillard, Core Banking CTO, Misys Banking Systems. "IFX is key to ensuring interoperability between banking software components in an SOA environment. We and our customers demand standards-based approaches to product development, which is evidenced in our evolving product strategies. We look forward to our active involvement in the IFX Forum and contributing to the enhancement of the standard."
"IFX is the leading standard for secure transaction messages in the ATM industry, as LINK is the leading processor of ATM transactions in the UK," said a LINK spokesperson. "We expect some great synergies from our participation in the Forum, and we look forward to opportunities to contribute to its work in the ATM, mobile payment and retail banking sectors."
About Misys Banking Systems
Misys Banking Systems supplies over 1,200 customers in more than 120 countries, among them 49 of the world's top 50 banks, with software and solutions for retail banking, wholesale banking, treasury and capital markets and risk management. It has 2,500 people around the world, and sales, implementation and customer support teams in nearly 30 countries. One third of the world's commercial loans, half of traded loan volumes and one in every eight global FX transactions are conducted using Misys systems. Misys invests heavily in research and development and is one of the top industry spenders, investing nearly 10 per cent of total revenue per annum. Misys Banking Systems is part of Misys plc.
About LINK Interchange Network Ltd
LINK Interchange Network Ltd is a leader in the rapidly evolving arena of secure electronic financial transactions, serving a wide range of industries including financial services, mobile telecommunications and the public sector. As a transaction management company, its primary focus of attention is switching and settling shared transactions for LINK, the world's busiest ATM network. Headquartered in the UK, the company is wholly owned by 22 of the UK's largest banks and building societies. More information is available at http://www.link.co.uk/index.html.
About the IFX Forum
Membership in the IFX Forum is open to anyone interested in contributing to the development of open financial standards that harness the power of XML. The IFX Forum is currently organized into the following Working Groups: ATM/POS; Business Banking; Branch Banking Services, Electronic Bill Presentment & Payment; and Web Services. 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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