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IFX Forum Names New Officers, Board Members at Productive Annual Meeting in London; Attendance at Inaugural Educational Seminar on IFX Surpassed Expectations.

Business Editors


The Interactive Financial eXchange (IFX) Forum has concluded its annual meeting, held this year in London, and has announced its newly elected Board members and Officers for 2004. The IFX Forum is a not-for-profit standards-developing organization working to develop a robust framework for the electronic business-to-business exchange of data among financial service institutions around the world.

Forum Chairman of the Board is Mark Tiggas of Wells Fargo; Treasurer is Rick Duvall of ACI Worldwide; and Secretary is Wim Geurden of Microsoft. Returning President of the IFX Forum is Richard P. Urban. Newly elected to the Board of Directors are Anne Cant of NCR, Ltd. and James Trocme of Diebold, Incorporated; William Bird of eFunds was re-elected. They join incumbent directors Susan Colles of Bank of America and Frank Eaton of Sun Microsystems.

"Expanding the leadership roster to meet the increasing activity of the Forum and the expanding reach of the IFX standard will help us reach our goals and serve our constituencies more effectively," said Tiggas, a former President of the Forum.

Another noteworthy item at this year's annual meeting was the group's open educational seminar on the IFX Forum and the IFX Business Message Specification - an opportunity for new or prospective members to learn about the mission of the IFX Forum and the underlying design of the standard. The half-day seminar drew more participants than had been anticipated.

"Our educational session was a gratifying success," said Urban. "With so much interest from non-member institutions, we'll be looking at other means of disseminating information about IFX outside the Forum. We hope interest will lead to IFX implementation, as prospective members' meeting participation has generally led to new Forum memberships."

In addition to educational, business and networking activities, the Forum's gatherings include serious working sessions. In particular, the ATM/POS working group brainstormed projects to follow their recently issued ATM/POS Implementation Guide, available for download at no charge from the IFX Forum Web site, In the Business Banking working group, bank representatives took a lively interest in payment kernel discussions. Considerable attention was also focused on delineating the requirements for IFX Version 2.0, which will be an adaptation of the IFX infrastructure to support Web Services standards and will include changes flowing from the International Standards Team Harmonisation (ISTH) project.

Attending the London meeting, which was hosted by Bank of America in its Canary Wharf location, were representatives from ACI Worldwide Inc.; Alliance & Leicester; American Express; Bank of America; Bankers Association of the Republic of China; Barclays Bank; Brixlogic; Calton Hill Ltd.; Diebold, Inc.; eFunds Corporation; Forenings Sparbanken AB; KAL; LloydsTSB Group; MBU D.O.O.; Microsoft; Mike Haehn Consulting; Nationwide Building Association; NCipher Corporation Limited; NCR Financial Solutions Group Ltd.; Nomad Software, Ltd.; OpenWay Service Ltd.; Phoenix Interactive Design, Inc.; SBS Software Ges.M.B.H.; Sun Micosystems; Swedbank; TWIST; Urban Micro; Wells Fargo and Wincor Nixdorf International GmbH. Many organizations sent multiple attendees.

Quarterly face-to-face meetings are an important platform for the Forum's working groups' accomplishments, though activity continues in between meetings by other means. The next members meeting is scheduled to take place in the summer. Details will be available at

About the IFX Forum

Membership in the IFX Forum is open to anyone interested in contributing to the development of open financial standards that harness the power of XML. The IFX Forum is currently organized into the following Working Groups: ATM/POS; Business Banking; Electronic Bill Presentment & Payment; and Web Services. 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
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Publication:Business Wire
Date:Jun 1, 2004
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