An Overview of Accredited Standards Committee X9 October 27, 2014 Claudia Swendseid Senior Vice President Federal Reserve Bank of Minneapolis Presentation.

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Presentation transcript:

An Overview of Accredited Standards Committee X9 October 27, 2014 Claudia Swendseid Senior Vice President Federal Reserve Bank of Minneapolis Presentation to W3C Technical Plenary Advisory Committee

Federal Reserve Banks Serves on the Minneapolis Bank’s senior management committee Provides executive oversight to operations, customer service, technology & payments functions, as well as to the Financial Services Policy Committee Support Office Conducts industry relations on behalf of the Federal Reserve System, serving as a liaison to selected national banking & business associations Vice Chair, Accredited Standards Committee X9, Financial Industry Standards Provide financial services to depository institutions & U.S. government Establish & execute U.S. monetary policy Supervise & regulate financial institutions Maintain a stable financial system & contain systemic risk Claudia Swendseid Senior Vice President Federal Reserve Bank of Minneapolis ©2014 Federal Reserve Bank of Minneapolis. Materials are not to be used without consent. 2

ASC X9  Accredited Standards Committee (ASC) X9 [accredited by ANSI] develops, establishes, maintains, & promotes technical standards for U.S. financial services industry via open, consensus model Owns/maintains over 120 standards & technical reports Focuses on current & future standards needs of industry  Leads U.S. participation in international standards development via ISO (International Organization of Standards) for financial services via open, consensus model Votes on U.S. adoption of ISO developed international financial services standards Represents US financial services interests to relevant ISO bodies (i.e., Technical Committee 68 & reporting groups) 3

X9AB: Payments X9C: Corporate Payments X9D: Securities X9F: Data Security  BALANCE TRANSACTION & REPORTING  REMITTANCE STANDARDS INVENTORY  CORE DEDUCTION REASON CODES  CODES  MESSAGES  CHECKS  CARDS  MOBILE (ISO MOBILE FINANCIAL SERVICES)  CRYPTOGRAPHY  CLOUD SECURITY  TOKENIZATION  ISO 8583 CARD ORIGINATED MESSAGES  X9.112 WIRELESS MGMT. & SECURITY (POS, ATM, MOBILE BANKING) X9 Subcommittees 4

Global U.S. TC68 Technical Committee 68 Financial Services Accredited Standards Committee X9 Financial Industry Standards X9F - Data & Information Security SC2 – Security ISO/TC 68 Secretariat ISO International Organization for Standardization ANSI American National Standards Institute The Standards Bodies X9D – Securities Processing SC4 – Securities X9AB – Payments SC7 – Core Banking 5

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