[April 05, 2017] |
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IFX Version 1.9.1 Published: Accommodates Changes in ATM Processing, Including PCI SSD Requirements and Dynamic Currency Conversion
The IFX
Forum announced today that it has published Version 1.9.1 of the IFX
specification. The focus of the new version is to accommodate changes in
ATM processing.
In a related matter, the Forum also announced a new Chair for its
Architecture Committee, Mark Tiggas, a longtime IFX Forum Director and
Officer who recently retired from Wells Fargo (News - Alert). The Architecture Chair
serves a pivotal role, leading the group that approves the Working
Groups' changes and enhancements to IFX and oversees their incorporation
into the specification.
Release 1.9.1 includes two new features. The first introduces
functionality for remote key loading compliant with the requirements
recently introduced by the PCI (News - Alert) Security Standards Council, which are to
be rolled out in 2017. The second feature provides new mechanisms to
support dynamic currency conversion, which provides the user of an ATM
with information about the cost of a currency conversion in advance of
the transaction, so that the user can choose to complete or abandon the
transaction. Both features were developed by the Forum's ATM-POS Working
Group, and were then approved by Architecture and the Forum's Steering
Committee.
"I'm proud to follow in the footsteps of the keen minds that have led
the IFX Architecture group. If not for them, IFX would not have the
strong business and technology following that it has today," said
Tiggas. "Release 1.9.1 demonstrates the ability of our members to
collaborate effectively to deliver needed functionality quickly. As
Architecture Chair, I will work to ensure continued agile response to
the market."
The IFX Forum is an international non-profit industry association whose
mission is to develop and promote the adoption of its open,
interoperable standrd for financial data exchange, IFX, which is
available for evaluation at no charge at http://bms.ifxforum.org/.
The Forum's Annual Meeting will take place May 1-3 in Orlando, Florida,
hosted by member Oracle (News - Alert). The meeting will feature intensive working
sessions of the new Standardized Banking APIs Working Group. Registration
for the event is now open.
In addition to developing the IFX specification, the Forum actively
engages in international standards activity, including longtime liaison
efforts with ISO and contributions to ISO
20022, a leadership role in the Remittance Coalition set up by the
U.S. Federal Reserve, and Memoranda of Understanding with ASC (News - Alert) X9, BIAN
and EPASOrg/nexo.
The Forum welcomes additional members to join in all its activities.
More information can be found at http://www.ifxforum.org/join/.
The Forum also hosts a free IFX
Discussion Forum, where knowledgeable Forum members and other
subject matter experts will answer IFX-related questions from the public.
About the IFX Forum The Interactive Financial eXchange (IFX)
Forum is an international not-for-profit industry association whose
mission is to develop the IFX business message specification and promote
its adoption as an open, interoperable standard for financial data
exchange. An agile standards development organization (SDO), the IFX
Forum also promotes interoperability of industry standards by working
cooperatively with other standards groups.
IFX is broadly used in practical implementations across the financial
services industry, and is especially suited for financial institutions
using Service Oriented Architecture (SOA). IFX contains thousands of
data elements and hundreds of messages specifically designed for the
financial services industry by industry experts. The standard is ideal
for modern API-enabled deployments.
More information about IFX and the benefits of IFX Forum membership can
be found at www.IFXForum.org.
View source version on businesswire.com: http://www.businesswire.com/news/home/20170405006124/en/
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