IFX FORUM SIGNS NEW MEMBERS FROM AROUND THE GLOBE: FUNDTECH, INTERBLOCKS, NAUTILUS HYOSUNG AND NETINFO
WAKEFIELD, Mass., USA – Nov. 13, 2008 – Four companies from four different countries have recently joined the Interactive Financial eXchange (IFX) Forum (http://www.ifxforum.org), the group today announced:
- Fundtech Corporation (NASDAQ: FNDT; http://www.fundtech.com), a provider of global transaction banking software including: payments, cash management, SWIFT services, financial supply chain applications, and CLS, headquartered in Jersey City, N.J., USA;
- Interblocks Ltd. (http://www.interblocks.com), a provider and innovator of integrated, electronic payment processing and service delivery solutions that empower banks and financial service providers across global markets, headquartered in Colombo, Sri Lanka;
- Nautilus Hyosung Inc. (http://www.nautilus.hyosung.com), a global manufacturer of complete ATM solutions, including hardware, software and services, headquartered in Seoul, Korea;
- NETinfo Plc (http://www.netinfo.com.cy/), a provider of software products, e-Banking solutions and specialized services to the global banking and financial industry, headquartered in Nicosia, Cyprus.
The 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.
"These four members from countries distant from each other demonstrate the international reach of the IFX specification, and the perceived value to companies large and small of participation in the IFX Forum,” said IFX President Richard P. Urban. “We look forward to our new members' contributions to the future of IFX, as we prepare to roll out IFX Version 2.0."
(Statements from the four new members appear at the end of this press release.)
The IFX Forum carries out its work in weekly Working Group teleconferences attended by members in multiple countries, and by quarterly face-to-face meetings in various locations. The next face-to-face meeting will take place November 17-20, in Orlando, Florida, USA, and the first day will include a public launch of IFX Version 2.0, capped by a celebration of the Forum's 10th anniversary. Prospective members are invited to attend the working portions of the face-to-face meeting, November 18-20. Attendance is open to all -- there is no fee, but registration is requested, from the link at http://www.ifxforum.org.
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; and Card Management and Servicing. 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 http://www.IFXForum.org.
STATEMENTS FROM NEW IFX FORUM MEMBER COMPANIES
"Becoming a member of the IFX Forum has provided Fundtech with access to Banking Industry data standards that help further streamline our development and delivery strategy,” said Al Griffin, Vice President of Cash Management Product Management. “Fundtech now has the ability to extend our Application Interfaces to new levels. We now utilize the IFX standard as the baseline for all new application interfaces that we develop, which leads to faster implementations and better support for our customers."
"The Interblocks solutions suite was built on the IFX standard from inception, and the flexibility it has provided to our software has proven to be one of our strongest competitive advantages over the years. This flexibility has enabled us to innovate within our product portfolio, constantly pushing the payments industry to greater heights," said Dinesh Rodrigo, CEO, Interblocks Ltd.
"As a major ATM manufacturer and participant in the banking industry, Hyosung had perceived the need for an international standard message format. We determined that IFX best fills that need," said Sung Hoon Kang, Software Director at Nautilus Hyosung. "Rather than wait for IFX to become popular, we decided to join the IFX Forum and help advance the IFX specification proactively."
“IFX is the obvious, evolutionary step towards standardizing integration with the various Banking systems. The IFX standard is well-positioned to become widely used within the financial services industry in a relatively short time,” said Vassos Aristodemou, Executive Director of NETinfo Plc. “By joining the IFX Forum, NETinfo can contribute towards this effort and adopt the IFX standard for its e-Banking solution integration projects.”
For further information:
Judith Vanderkay
Virtual, Inc., (781) 876-6208
jvanderkay@virtualmgmt.com
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