IFX Forum Announces Anchor Members of Open Banking APIs Working Group: ACI Worldwide, NCR, Oracle, TCS, U.S. Bank, Wells Fargo
by May 3, 2017 11:27 am0
New Group Will Hold InauguralFace-to-Face Meeting in Orlando, May 2-3
WAKEFIELD, Mass. – May 3, 2017 – The IFXForum today announced the roster of member companies anchoring its newlylaunched Open APIs Working Group. These companies include ACI Worldwide, NCR,Oracle, Tata Consultancy Services, U.S. Bank and Wells Fargo.
In keeping with its core mission, the IFX Forum recently established astrategic priority around the creation of industry-wide standard open APIs. TheOpen APIs WG is working to develop a standardized way to address the growingimpetus for banks to provide more open access to their data, in place ofproprietary APIs (application programming interfaces) being developed by financialinstitutions and vendors. More details about the specific goals and activitiesof the WG are available online.
The inaugural face-to-face meeting of the Working Group is taking place May2-3 in Orlando, Florida, USA, during the Forum’s 2017 Annual Meeting, hosted byOracle. Non-members are invited to attend; registrationis now open.
“The commitment from these leading multinational companies to our OpenAPIs initiative underscores the importance of this effort to the globalfinancial services industry. Their expertise and resources will enable theWorking Group to deliver significant results in a timely manner,” said IFXForum President Richard Urban. “I urge everyone who has a stake inproviding safe, efficient open access to banking data to join us in Orlando, tolearn what the IFX Forum and its member community are doing, and how you canparticipate.”
The IFX Forum is an international non-profit industry association whosemission is to develop and promote the adoption of its open, interoperablestandard for financial data exchange, IFX, which is available for evaluation atno charge at http://bms.ifxforum.org/.
In addition to developing the IFX specification, the Forum actively engagesin international standards activity, including longtime liaison efforts withISO and contributions to ISO20022, a leadership role in the Remittance Coalition set up by the U.S.Federal Reserve, and Memoranda of Understanding with ASC X9, BIAN andEPASOrg/nexo.
The Forum welcomes additional members to join in all its activities. Moreinformation can be found at http://www.ifxforum.org/join/.The Forum also hosts a free IFXDiscussion Forum, where knowledgeable Forum members and other subjectmatter experts will answer IFX-related questions from the public.
About the IFX Forum
The Interactive Financial eXchange (IFX) Forum is an internationalnot-for-profit industry association whose mission is to develop the IFXbusiness message specification and promote its adoption as an open,interoperable standard for financial data exchange. An agile standards developmentorganization (SDO), the IFX Forum also promotes interoperability of industrystandards by working cooperatively with other standards groups.
IFX is broadly used in practical implementations across the financialservices industry, and is especially suited for financial institutions usingService Oriented Architecture (SOA). IFX contains thousands of data elementsand hundreds of messages specifically designed for the financial servicesindustry by industry experts. The standard is ideal for modern API-enableddeployments.
More information about IFX and the benefits of IFX Forum membership can befound at www.IFXForum.org.