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IFX for Card Management

Including card management and servicing messages in the IFX specification will assist financial institutions as they seek to enhance the services they offer customers, and it will help increase the efficiency of their operations.

The addition of card management material to IFX will enable banks and card organizations to improve their customer experience and to deliver a broader array of products and services across multiple channels, contributing to an agile and flexible environment.

The Card Management and Servicing Working Group is working to add this desirable new functionality to IFX. The WG utilizes both top-down and bottom-up approaches to determine the appropriate data elements, analyzing back-end system and front-end messages.

To date, the Working Group has completed the following proposals for additions/extensions to the IFX specification:

Card Object -- establishes attributes and standard aggregates for a card
Party to Card Relationship -- adding, modifying and retrieving information about the relationship between the Party and Card Objects
Card to Account Relationship -- adding, modifying and retrieving information about the relationship between the Account and Card Objects
Card II and Card Order
Rewards
Card Transaction Addenda

In progress:

Account to Account Relationship

Card Management & Servicing Working Group

The Card Management and Servicing Working Group is chartered to ensure that the IFX Business Message Specification (BMS) has all the necessary messages to perform card services. "Card" is defined as the services related to Issuing, Management and Servicing of Credit, Debit, Prepaid and Private Label cards. The services may be initiated by a customer service representative or through a customer-enabled channel such as the Web or interactive voice response telephony (IVR). Examples include, but are not limited to, card origination, activation, replacement, lost/stolen, status changes, general maintenance, etc.

Participants include banks, card organizations, services providers, and other organizations. Representatives from the CMSWG participate in the IFX Architecture committee meetings, presenting proposed messages or modifications to best address card management and servicing. Face-to-face working meetings are held in conjunction with the IFX Forum quarterly meetings in locations as scheduled by the IFX Steering Committee.