WAKEFIELD, Mass.--(BUSINESS WIRE)--The Interactive Financial eXchange (IFX; http://www.ifxforum.org) Forum announced today that it has published Version 1.9 of IFX, its open, interoperable standard for financial data exchange, and it is now available at no charge at http://bms.ifxforum.org/.
The IFX Forum is an international non-profit industry association whose mission is to develop and promote the adoption of the IFX specification. Honoring the Forum's commitment to continued support for IFX Version 1 after the launch of Version 2, the new version's enhancements focus on ATM implementations and compliance with the PCI Data Security Standard. Operational improvements and some corrections to existing material were also made.
Noteworthy extensions to IFX in Version 1.9 include:
- Support for devices that can operate in multiple modes (i.e., clerk/teller-operated vs. customer-operated, depending on the time of day), allowing more dynamic interaction between the terminal and the server
- Message extension that allows a device to customize operations based on the services a customer is enrolled in, such as mortgage, investment, etc.
- Europe-focused ATM enhancements, such as support for local security requirements that exceed those covered by the common industry security standards, and support for Germany's Modular Merkmal (MM) card security token
- Removal of any sensitive authentication data, as defined by the PCI DSS, from consumer-initiated Reverse and Modify messages – applicable across all IFX implementations
- Support for ATM overdraft notification to customers
- Enhancements to ATM cash dispensing and check processing modules
"The enhancements and extensions in IFX 1.9 are important for IFX ATM-POS implementations, with special application for those in Europe," said Richard P. Urban, President of the IFX Forum. "The new material demonstrates IFX's international orientation especially well, along with the excellent cross-industry collaboration within the Forum's Working Groups. I encourage anyone who is interested in furthering the value of IFX in a particular region or sector to join us, and participate in setting future direction for the specification."
IFX 1.9 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.
In addition to developing IFX, the Forum actively engages in international standards activity, including longtime liaison efforts with ISO and contributions to ISO 20022, a collaborative effort with BIAN (the Banking Industry Architecture Network) focusing on interoperability in payment execution, a cooperative agreement with ASC X9 and a leadership role in the Remittance Coalition set up by the U.S. Federal Reserve.
The IFX Forum's membership includes organizations from a dozen countries on five continents. The Forum welcomes additional members to join in all its activities. More information can be found at http://www.ifxforum.org/join/.
Face-to-Face Meeting October 23-25
Prospective members are invited to attend the upcoming IFX Forum Face-to-Face meeting, which will be hosted by ACI Worldwide at its headquarters outside Omaha, Nebraska, USA. The event features an "Introduction to IFX" session on October 23, Working Group meetings on October 24, and an all-day Architecture discussion on October 25, along with opportunities for one-on-one conversations with Forum leaders and members. Meeting fee is $695 per person, which can be credited toward membership dues. Program details and registration are linked at 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, Card Management & Servicing, Liaison & Interoperability, and Loans. 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.