1. Interactive Financial eXchange www.IFXForum.Org IFX and XML in Banking Mark SB Tiggas Chairman, IFX Forum Sr. Vice President, Wells Fargo Services Company

2. Interactive Financial eXchange www.IFXForum.Org What you will learn today What is IFX, and why you should care How can I get involved? How can I learn more?

3. Interactive Financial eXchange www.IFXForum.Org You? A Hero? If you’re under the gun… Grab and go If you’re contemplating a business problem… Grab and tweak as needed If you’ve been monitoring the evolution of messaging… Here is concrete example

4. Interactive Financial eXchange www.IFXForum.Org Just messages? No!

5. Interactive Financial eXchange www.IFXForum.Org What is IFX? Interactive Financial Exchange –A collection of messages necessary to build a distributed banking platform –Robust and complete to accommodate most use cases –Extensible to allow new uses –Business rules and expectations for each role in a distributed environment Developed and maintained by the IFX Forum –the foremost, and only open, industry effort formed to construct a Messaging Specification for Business and Retail Banking

6. Interactive Financial eXchange www.IFXForum.Org A “Messaging Specification” Marshall McLuhan * was wrong when he said “The Medium is the Message”. –XML is an important medium but… –Content is King It’s not about XML, it is about –System to system communication –Orchestrating business processes between companies – “collaboration” –Connecting internal and/or external systems *Understanging Media, Marshall McLuhan, 1964

7. Interactive Financial eXchange www.IFXForum.Org IFX is more than an XML Spec It is a Messaging Specification… an object model represented by an XML Schema a communications protocol well-considered business rules Targeted Financial Solution

8. Interactive Financial eXchange www.IFXForum.Org What does IFX enable? Communication of account information and transactions for Banking such as Balance Inquiry, Credit, Debit and Credit Card, etc. Communication of Payments and Remittance transactions for Business and Consumer The exchange of Bill Presentment information Device communications for Debit, Credit and ATM Valuable Media - money, stamps, etc. Supports the exchange of Property and Casualty Insurance * information * Insurance Messages are developed and maintained by ACORD 

9. Interactive Financial eXchange www.IFXForum.Org Why You Should Care? No one became a hero by reinventing the Wheel IFX can provide you a jump start, a well- considered object and transaction model Your applications can integrate with other platforms built with IFX IFX can serve as a model for banking- related transactions.

10. Interactive Financial eXchange www.IFXForum.Org About The Forum Self-governed Open membership Rules for Intellectual Property Supported by annual dues –Provides a budget for: web site, general administration and communications expenses

11. Interactive Financial eXchange www.IFXForum.Org Consider Participating The Forum meets face-to-face Quarterly Work Groups meet more often, generally by phone Active Work Groups include –Business Banking –ATM/POS –Credit Application –Electronic Bill Presentment and Payment Architecture team to keep us on track –Preserve and advance the model and its integrity –Review and coordinate the work groups –Plan and manage the release cycle Three members can sponsor new endeavors - e.g ATM/POS

12. Interactive Financial eXchange www.IFXForum.Org How Can You Learn More? www.ifxforum.org –The specification and supporting materials –User Guides Watch our web site for educational opportunities Contact me at … Mark.Tiggas@WellsFargo.com 612-316-3142