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Check out the IFX Community Forum where implementers answer questions and share experience. IFX Architects and WG participants check in and provide their perspective, too.
IFX Forum Work Groups (WG) are not permanent committees. Members form WGs in order to focus on content development for particular business requirements.
Choose any tab above to see what what content the work group has developed and what the current activities are in the work group. The best way to see exactly what we are working on today is to join IFX Forum and access the Members Only collaboration space.
Many of today's ATM and POS environments use proprietary message formats. IFX is a business message specification that can be used as a financial industry standard eliminating the need for using proprietary message formats from ATMs or POS devices.
The benefits of IFX are numerous, including a more competitive vendor marketplace and easier integration with other channels and systems, as well as more detailed information to manage your network.
Though IFX is not specific to the ATM/POS industry, it is the defining standard for interoperability between ATM/POS terminals and authorizing systems.
The IFX business message specification used as a financial industry standard eliminates the need for proprietary message formats from ATM or POS devices. The multi-channel consistency (Internet, ATM, POS, Teller, etc.) guarantees reliability and generates significant cost savings.
The benefits of IFX include:
IFX addresses the broader needs of the financial services industry with impact on the vertical lines of business, delivery channels and the vendors that sell into those channels. Financial institutions are implementing financial transactions using IFX for a number of different business offerings -- for example, retail banking, commercial banking, wire transfers and bank-to-bank transactions.
| Benefit | Feature |
| Supports all types of financial transactions |
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| Full support for security, customer and service profile information |
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| ATM Management |
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| ATM Inventory Management |
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The purpose of the IFX ATM/POS Working Group is to create the IFX messages necessary to enable the ATM and POS channels to be supported so that financial institutions will be able to use one standard message specification, IFX, across all their delivery channels. The ATM/POS WG works to accomplish this through modifications and additions to the IFX specification.
Members of the Working Group include hardware manufacturers, software developers, service providers, financial institutions and industry consultancies. Representatives from the ATM/POS WG participate in the IFX Architecture committee meetings, presenting proposed messages or modifications required to meet the channel's needs. The WG meets regularly via teleconference/webconference. Intensive face-to-face working meetings are held in conjunction with the IFX Forum quarterly meetings in various locations.
The ATM-POS Working Group has developed a comprehensive Implementation Guide for IFX Version 1.8. You may download it free of charge. Note that it is a 645-page pdf document, and it may take a little while to load.
A key initiative for the ATM-POS Working Group is to guide efforts to integrate the IFX standard in related ISO initiatives – especially TC68/SC7/WG9. This effort began in 2009 and has continued.
The ATM-POS Working Group also continues to define incremental content for both v1.x and v2.x messages and objects.
In early 2015 IFX Forum kicked off the BIAN Services Work Group. This new, exciting effort will follow up on the Proof of Concept jointly developed by BIAN and IFX Forum in 2013 by providing new content in the IFX BMS and potential canonical representations of IFX services and interfaces aligned with the BIAN Service Landscape.
At the IFX Forum Annual Meeting in Boston, MA, April 27-29, the Work Group held its first face-to-face meeting and has been meeting weekly since that time.
There is still plenty of time to get involved in this important work. If you are member, you may participate immediately. If you are not a member, we encourage you join the Forum and help us with this and other WG initiaves.
Take a look at and listen to the webcast that describes the IFX-BIAN relationship, the Proof of Concept results and the preliminary charter of the work group IFX-BIAN WorkGroup
Then download the presentation.
Taking advantage of the benefits of network environment and the IFX Service Oriented Architecture, which supports internal data communications and channel independence, the Branch Banking Services functions of IFX include a set of messages and objects that have been designed to address the complexities associated with serving customers in a branch banking environment.
IFX includes a set of business objects that have been designed to address the complexities of branch banking needs while taking advantage of the benefits of network environments. The goal of IFX for Branch Banking is to allow financial institutions to manage various channel-specific applications and core processing systems using a consistent set of messages and data attributes and values. IFX multi-channel support guarantees reliability and generates significant cost savings.
The branch banking servicing elements are integrated into the IFX Framework -- the foundation of the IFX Specification includes a set of common objects that can be used across multiple types of financial services. This facilitates the implementation of cross-service applications.
| Benefit | Feature |
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Teller Drawer |
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Extended maintenance of accounts |
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Create and maintain records for various parties |
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Supports account statement inquiry |
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Supports account transaction and image inquiry |
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Supports notes at the account, party, or transaction |
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Add or delete a Stop Check |
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Create single or recurring transfer of funds |
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The purpose of the IFX Branch Banking Services Working Group (BBSWG) is to ensure that the IFX Business Message Specification (BMS) includes all the messages necessary to perform transactions through the bank branch and call center delivery channels. The BBSWG carries this out by modifying existing IFX messages and message flows to support Branch Banking and Call Center transaction sets and functionality, as well as creating new messages that enable functionality not currently in the IFX BMS.
Leading financial institutions and financial software providers develop IFX for Branch Banking, working together to create a useful set of elements that support a wide variety of traditional branch banking functions. Participants include banks, software providers, services providers and other organizations. Representatives from the BBSWG participate in the IFX Architecture meetings, presenting proposed messages or modifications required to meet branch banking needs. The WG meets regularly via teleconference/webconference. Intensive face-to-face working meetings are held in conjunction with the IFX Forum quarterly meetings in various locations. The Branch Banking WG also collaborates extensively with other WGs, such as Card Management & Servicing and Business Banking.
The Branch Banking Services work group is currently enhancing the content in IFX version 2.x, which includes messages and content that support branch banking and call center functions but were not included in the initial BMS releases.
IFX includes a set of messages that have been designed to address the complexities of corporate banking needs while taking advantage of the benefits of network environments. IFX can be used across various types of applications - from internal data communications to integration of data across many companies. The goal of IFX for Business Banking is to allow companies to interact more effectively with each other and accomplish end-to-end e-commerce.
Leading financial institutions and trading partners developed IFX for Business Banking, working together to create a useful set of messages and elements that encompass a wide variety of business banking activities and rules.
The required business rules that support the banking needs of corporate customers can be highly complex and encompass detailed processing rules that are typically not seen in a consumer-based banking model. Requirements to support features such as multiple payments with multiple due dates being applied to single invoices and all of the possible permutations thereof are more the norm than the exception.
Some of the uses of IFX in Business Banking include:
Additionally, the IFX specification allows for optional integration of Retail and Wholesale banking services. IFX provides a wide range of retail banking features that can easily be integrated with banking applications that require support for both. This is particularly useful in inter-bank transactions, record keeping and data transmission.
| Benefit | Feature |
| Supports multiple Payment Origination models. |
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| Support for Direct Debit Origination |
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| Control Notification |
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| Payment Acknowledgment |
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| Remittance Detail |
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| Comprehensible Remittance Reporting |
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| Positive Pay Services |
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| Balance and Transaction Reporting |
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| Check Order and Reorder |
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| ISO 20022 Integration |
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The IFX Forum's Business Banking Work Group (BBWG) is responsible for the work of enhancing or creating IFX messages that support the various banking messages necessary for small business to large corporations to communicate with their banks/financial institutions, service providers and other external points.
Participants include banks, software providers, services providers, ERP vendors, and other organizations. Representatives from the BBWG participate in the IFX Architecture meetings, presenting proposed messages or modifications required to meet business banking needs. The WG meets regularly via teleconference/webconference. Intensive face-to-face working meetings are held in conjunction with the IFX Forum quarterly meetings in various locations.
Upcoming work includes the implementation of additional ISO 20022 messages into the IFX framework, as well as the incorporation and/or harmonization to efforts initiated by other standards groups, such as those around remittance and software package integration.
For IFX, "Card Management" 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.
Including card management and servicing messages in the IFX specification assists financial institutions as they seek to enhance the services they offer customers, and it increases the efficiency of their operations.
The addition of card management material to IFX enables 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 elements are integrated into the IFX Framework -- the foundation of the IFX Specification includes a set of common objects that can be used across multiple types of financial services. This facilitates the implementation of cross-service applications.
IFX may be used to offer services related to a card, account, party (customer), transactions, etc. using the content developed and defined in the section above.
| Benefit | Feature |
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Card object |
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Card Order |
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Card relationships to accounts and parties |
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Provide support for Rewards data |
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Card Transaction Addenda |
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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. The WG utilizes both top-down and bottom-up approaches to determine the appropriate data elements, analyzing back-end system and front-end messages. The CMSWG welcomes input from card-issuing members on future direction and participation in the working group to develop content that will provide support for card-issuing services around the globe.
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. The WG meets regularly via teleconference/webconference. Intensive face-to-face working meetings are held in conjunction with the IFX Forum quarterly meetings in locations as scheduled by the IFX Steering Committee.
The Card Management Services Working Group is actively engaged. Current areas of focus by the CMSWG are:
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Pricing |
The financial terms and conditions related to a card account that relate to fees, finance charge and associated processing |
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Automatic Payment |
The ability to configure a card account with automatic payment parameters |
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Transactions |
Increase support of network based data received on a card transaction |
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Authorizations |
Increase support of network based data received during a card authorization |
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Business Card |
Support for business card data elements related to options required by companies |
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Extended Credit |
Support for major purchase transaction options with their own repayment schedule |
IFX Forum has a well established strategic intent to cooperate with other Standard Development Organizations (SDOs) and to be interoperable with other standards, especiallay where the Steering Committee has established there are complementary benefits to the membership. The purpose of the Liaison and Interoperabilty Work Group (LIWG) is to act as the contact point for IFX discussions and work efforts related to:
Amongst other things the LIWG works to:
Are you a representative of a Standards Development Organization interested in working with IFX? Contact: IFXLiaison@ifxforum.org
In 2012, the IFX Forum launched a Loans Working Group. The focus of the WG is to extend the IFX Framework to include support for additional aspects of lending not previously included in the specification. All members of the IFX Forum are invited to send participants to the Loans WG.
The Loans WG will be the location for all IFX Forum discussions and work efforts related to extending existing IFX objects related to lending, and to adding new objects as required, in order to complete coverage of all aspects of lending, such as collateral and contracts. The group will also work to ensure that its deliverables meet the Forum's requirements for interoperability with external standards.
When content has been defined and added to the IFX BMS, a description of the material will be posted here.
In early 2013, the IFX Forum established a Working Group to explore how to support the use of IFX in SOA environments, in response to inquiries received following the release of IFX Version 2 -- requests for direct guidance to members and other implementers of IFX about how best to use IFX in SOA environments. The new SOA WG is the contact point for IFX Forum discussions and work efforts related to best practices for implementing IFX in a Service Oriented Architecture, and common IFX implementation patterns for SOA.
The SOA WG is creating a Web Services Implementation Guide for IFX 2.x, which will, among other objectives, describe the key concepts of the Service Provider and Services objects, and will provide a "cookbook" step-by-step example of building a meaningful service. The WG will also develop a sample interface in the BMS based on the examples used, and will generate XSD(s) based on it. Later on, the SOA WG may consider creating other documents.
Note that the original Web Services Implementation Guide was based on IFX Version 1 and is not directly applicable to v2.x, due to the significant architectural differences between versions. (This document is currently not available to the public, for that reason.) The publication of a new SOA Implementation Guide will bridge this gap.
All IFX Forum members are eligible to join and participate in the activity of the SOA WG.
A webcast was held in March 2014 entitled "The IFX Standard: A Service Oriented Framework for Businesses in the Financial Services Industry." Delivered by IFX Forum President Richard Urban and SOA WG Co-chair Kyle Cacciatore, the event provided a high-level overview of IFX Forum, Inc. and how the IFX Standard can serve as a framework for designing SOA solutions to meet individual business requirements. A replay/podcast of the event is available. You may also download the presentation from the event.
For general information about the IFX Standard please go to www.ifxforum.org/standards.
In 1997-98, the InteroperaBILL initiative, fostered by the Banking Industry Technology Secretariat (BITS) and supported by the National Automated Clearing House Association’s (NACHA) Council for Electronic Billing and Payment, defined a widely accepted set of business practices that define how EBPP transactions should be conducted. The effort that went into creating the IFX for EBPP message set was based on the Service Provider model for EBPP defined at that time.
The Service Provider model is based on the concept that the process of delivering a bill from an originator ("the Biller") to the receiver (the "Customer") and processing the payment of the bill through the Internet requires the participation of at least two entities, but most likely will involve more than that, since customers may access bill presentment and payment information through a variety of channels. IFX for EBPP focuses on making required information available to everyone involved in delivering the service.
The complex business models found in Electronic Bill Presentment and Payment (EBPP) environments create two types of data exchange requirements: the need to capture all of the transactional data itself and the necessity for reliable coordination of the communication of that data. By definition, EBPP applications are dependent on the networks that they connect to. In order to transfer billing data from the originator through one or more service providers to the recipient, significant interactions must take place. EBPP can only work if all of the entities involved in delivering the services are able to communicate together in a reliable, flexible, economical fashion.
The participating entities can be separate financial institutions, corporations/billers, or service providers of various varieties – all of which may or may not have pre-established relationships with each other, sit within the same corporate walls, or even be located within the same country. The challenge to creating a messaging standard for EBPP is in assuring the successful interoperation of all parties involved in delivering the required services.
IFX for EBPP was built to accomplish these goals:
The table below summarizes the capabilities, features and benefits of the IFX EBPP functionality.
| Benefit | Feature |
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Enrollment/Service Activation |
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Bill Summary Delivery |
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Payment Processing |
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Customer Care |
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Ability to enable EBPP service to multiple billers. |
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IFX for EBPP has been a cooperative industry effort among major financial institutions, service providers, and information technology partners to develop a single, open financial services industry standard for EBPP. Over the past decade participants have included Microsoft, Intuit, Checkfree, IBM, Wells Fargo, Bank of America, Citi and many others.
The Electronic Bill Presentment and Payment working group no longer meets on a regular basis. The IFX Architecture Committee continues to ensure that new capabilities introduced by other working groups are compatible with, or enhance, the standard's support of EBPP functionality.
