Sunday, March 23, 2008

E-Banking References in United States of America

Office of the Comptroller of the Currency, Administrator of National Banks, US Department of the Treasury

OCC Electronic Banking Guidance

BITS (BITS is not an acronym. At one time, BITS stood for "Banking Industry Technology Secretariat." However, with financial modernization and the emergence of integrated financial services companies involving insurance, securities and banking, that term is no longer used.)

Monday, March 10, 2008

Financial Information eXchange (FIX)

The Financial Information eXchange ("FIX") Protocol is a series of messaging specifications for the electronic communication of trade-related messages. It has been developed through the collaboration of banks, broker-dealers, exchanges, industry utilities and associations, institutional investors, and information technology providers from around the world. These market participants share a vision of a common, global language for the automated trading of financial instruments.
FIX is the industry-driven messaging standard that is changing the face of the global financial services sector, as firms use the protocol to transact in an electronic, transparent, cost efficient and timely manner. FIX is open and free, but it is not software. Rather, FIX is a specification around which software developers can create commercial or open-source software, as they see fit. As the market's leading trade-communications protocol, FIX is integral to many order management and trading systems. Yet, its power is unobtrusive, as users of these systems can benefit from FIX without knowing the language itself. Following is the FIX official site:


FIX Protocol Organization

Interactive Financial eXchange (IFX)

XML specification for electronic bill presentment and payment, business to business payments, business to business banking (such as balance and transaction reporting, remittance information), automated teller machine communications, consumer to business payments, and consumer to business banking.

Followings may be useful links:

IFX Official Site
IFX 2.0 Preview
IFX 1.x Framework Presentation
IFX and XML in Banking
XML Usage in Financial Services
Presentation

Open Financial eXchange (OFX)

XML specification for the electronic exchange of financial data between financial institutions, businesses and consumers via the Internet. It is designed to support a wide range of financial activities including consumer and small business banking; consumer and small business bill payment and investments transaction download, including stocks, bonds, and mutual funds.
Followings are the related websites:

OFX Official Site
OFX Financial Institution Data
some OFX & OFC Resources