IFX Forum Launches Working Group For Branch Banking Transactions

The IFX Forum has announced the official formation of a Branch Banking Services Working Group, following approval by the IFX Forum Steering Committee. The IFX Forum is a non-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. The new working group, which is led by Karin Brown, Senior Product Manager at ACI Worldwide, and Rossana Funte, Advisory Developer at Canadian Imperial Bank of Commerce (CIBC), is chartered to extend the existing IFX Business Message Specification (BMS) to perform transactions through the bank branch delivery channel. The group intends to incorporate enough functionality to support commonly used teller and call center transactions in the next available release (likely version 2.0) of the IFX BMS. In addition to the IFX BMS modifications, the group plans to develop an IFX Branch Banking Implementation Guide to describe usage and message flows. More complex functionality, including branch platform transactions, will be added to the IFX BMS in later releases.


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