The Interactive Financial Exchange Forum Inc., an open financial standards group based in Alexandria, Va., on Tuesday announced the formation of a new working group to investigate business opportunities for Web services.
The IFX Forum Web Services Working Group will determine the feasibility of supporting Web services in its current specifications, now in version 1.4, or the extent to which the IFX Forum needs to make changes in its specifications to adopt Web services. The group will focus on those standards and specifications now approved or in their final stages by other standards bodies, including SOAP, WSDL, UDDI, WS-Security, BPEL4WS, ebXML and SAML, among others.
The IFX Forum is currently organized into the following working groups: ATM/POS; business banking; credit application processing and electronic bill presentment and payment. 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, according to the IFX.