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International Financial eXchange releases IFX version 2.2

January 30, 2012

The Interactive Financial eXchange Forum announced today that it has published Version 2.2 of IFX, its open, interoperable standard for financial data exchange, said a press release from IFX.

The IFX Forum is an international non-profit industry association formed to develop and promote the adoption of the IFX specification, an open, interoperable standard for financial data exchange, which is suitable for use by all sectors of the financial services industry. IFX adopters range from large multinational corporations to small companies and self-employed consultants, and include banks and vendors around the world.

Enhancements in IFX 2.2 expand the applicability of IFX to new scenarios and situations, such as mobile and Internet banking, making it more flexible. Operational improvements and some software fixes were also made. New extensions to the software include:

• features for incorporating and tracking marketing campaigns and offers;
• added capabilities, including provisions for recurring payments and the issuance of alerts to account holders;
• administrative enhancements, such as loss tracking and support for card inventory management;
• provision for parent-child account-to-account relationships;
• functionality for account pricing, delinquency tracking, and portfolio segmentation of customers and accounts.

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