Judith Vanderkay
Virtual, Inc.
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News Release-- January 15, 2008
IFX FORUM WELCOMES MORE NEW MEMBERS FROM AROUND THE WORLD: COMPUTER SCIENCES CORPORATION; PARAGON APPLICATION SYSTEMS; SCAN COIN INDUSTRIES; AND TATA CONSULTING SERVICES/FNS
WAKEFIELD, Mass., USA – Jan. 15, 2008 – Four new companies have recently joined the Interactive Financial eXchange (IFX) Forum (http://www.ifxforum.org), the group today announced:
- Computer Sciences Corporation (NYSE: CSC; http://www.csc.com/banking), a leading global information technology (IT) services company, headquartered in El Segundo, Calif., USA;
- Paragon Application Systems, Inc. (http://www.paragonedge.com), a leading global provider of ePayment simulation, configuration and testing software tools to the financial industry, headquartered in Holly Springs, N.C., USA;
- Scan Coin Industries (http://www.scancoin.com), a global leader in automatic coin and bank note processing, headquartered in Malmo, Sweden;
- Tata Consulting Services, Financial Solutions Division (http://www.tcs.com/bancs/; BSE: TCS.BO, NSE: TCS.NS), a provider of business application solutions to financial institutions globally, with the Division headquartered in Bangalore, India.
"Our newest members demonstrate the variety of size, geography and sector that has become the IFX Forum's hallmark as a place for the industry to collectively advance IFX as a global financial messaging standard,” said IFX President Richard P. Urban. “We welcome these companies' participation in the ongoing work of the Forum."
(Statements from the four new members appear at the end of this press release.)
The IFX Forum Working Groups carry out their work in weekly teleconferences attended by members in multiple countries, and by quarterly face-to-face meetings in various locations. The 2007 Annual Meeting took place in Paderborn, Germany, and the group's next face-to-face meeting will be held January 21-24, in Orlando, Florida, USA, hosted by Fidelity National Information Services.
Prospective members are invited to attend a face-to-face meeting for a fee of $695 per person (which will be credited toward membership dues, if the company joins the Forum within 60 days after the meeting), to become familiar with the group's activities before formally joining. A link to detailed meeting information and registration will be posted at http://www.ifxforum.org.
About the IFX Forum
Founded 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 is currently organized into the following Working Groups: ATM/POS; Branch Banking Services; Business Banking; Electronic Bill Presentment & Payment; and Web Services. 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. To learn more about IFX Forum standards or the benefits of IFX Forum membership, please visit http://www.IFXForum.org.
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STATEMENTS FROM NEW IFX FORUM MEMBER COMPANIES
“It’s important to CSC to offer its banking clients more technology choices and options,” said Jeffery Schwalk, vice president and managing director of the Banking division within CSC’s Financial Services Sector. “Through the Forum, we will be able to apply IFX data standards, which will allow us to further streamline our clients’ integration projects.”
“As financial organizations look to add new delivery channels and consolidate their transaction processing, the IFX message format is a natural fit, and joining the IFX Forum is a natural step for our company,” said Jim Perry, VP of Sales and Marketing for Paragon Application Systems.
“Joining the IFX Forum enables all companies to have access to important standards enhancements,” said Jan Pasanen, System Software Manager, Scan Coin Industries. “This will create new business opportunities that today are expensive to enter.”
“Our global customer base will be well served by the international orientation of IFX,” said Murray Heldon at TCS Financial Solutions. “It is clear that IFX is emerging as a key ingredient in financial solutions around the world.”