IFX Forum Welcomes New Members GS1 Colombia/LOGYCA and Oracle
14 October 2015 - 12:00AM
Business Wire
The Interactive Financial eXchange (IFX) Forum announced its two
newest members today. GS1 Colombia/LOGYCA, a company dedicated to
the creation and management of standards for industries around the
world, based in Bogota, Colombia, has joined at the Small Business
level; Oracle, provider of a comprehensive and fully integrated
stack of cloud applications and platform services, headquartered in
Redwood City, California, USA, has joined as a Corporate
member.
The IFX Forum is an international non-profit industry
association whose mission is to develop and promote the adoption of
its open, interoperable standard for financial data exchange, IFX,
which is available at no charge at http://bms.ifxforum.org/. The
Forum's members and subscribers span 17 countries on five
continents.
"We are pleased to welcome our new members, who once again
demonstrate the value IFX offers, regardless of company size or
location," said Richard P. Urban, President of the IFX Forum. "We
hope GS1 Colombia/LOGYCA and Oracle will be active participants as
we step up our involvement with international standards bodies such
as BIAN and ISO 20022, and we look forward to including their
expertise and valuable insights in Forum activities."
"After two years researching the appropriate way to
standardizing the web services used by the banking system in
Colombia, GS1 Colombia/LOGYCA and Asobancaria – Colombia's banking
association -- choose to work with IFX as the best option that
meets our needs, especially in terms of security, a priority for
us. In addition, IFX opens the possibility to share our experience
and learn from foreign organisations how to approach new trends in
the global financial sector," commented Juliet Espinosa, standards
manager in GS1 Colombia/LOGYCA.
"Oracle is committed to the use of open banking and payment
standards. In joining the IFX Forum we are building on our
participation in the development of other international and
national standards bodies. It is of great importance for Oracle to
model industry best practices and standards, and being a part of
these organizations can help us ensure that we achieve that
objective," said Sonny Singh, Senior Vice President and General
Manager, Oracle Financial Services. "Oracle has been supporting IFX
for years in customer deployments, and our membership further
demonstrates our commitment to helping financial services firms
meet their business and technology goals."
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 X9, BIAN
and EPASOrg/nexo. This week President Urban is a speaker at the
Standards Forum within the sibos event in Singapore.
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 ForumFounded in 1997, the Interactive
Financial eXchange (IFX) Forum is an international not-for-profit
industry association whose mission is to develop IFX and promote
its adoption as an open, interoperable standard for financial data
exchange, suitable for use by all sectors of the financial services
industry. The IFX Forum also promotes interoperability of industry
standards by working cooperatively with other standards
organizations and consortia.
Forum membership is open to organizations interested in
contributing to the development of open financial standards. Forum
members include financial institutions, hardware, software and
service firms, and related non-profit groups. The IFX Forum carries
out its activities via Working Groups, in concert with an
Architecture Committee to coordinate their efforts. To learn more
about IFX or the benefits of IFX Forum membership, please visit
www.IFXForum.org.
Follow the IFX Forum on Twitter
-- @IFX_Forum
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Virtual, Inc.Judith Vanderkay, +1
781-876-6208jvanderkay@virtualmgmt.com