1. Wells Fargo Services Company
Cash Management Forum
Mark SB Tiggas
Chairman, IFX Forum
Sr. Vice President
Wells Fargo Services Company

2. Agenda The Problem/Requirements Describe IFX
How IFX is the natural solution to couple a bank and its Cash Management customers
How IFX is the obvious, evolutionary step for Cash Management vendors
Activities underway

3. The Problem
Linking commercial banking customers’ business applications with their banks’ Cash Management systems
I-N-T-E-G-R-A-T-I-O-N
One-click in my ERP yields a completed transaction at my bank(s) and/or other parties
Status visibility to understand progress throughout the life of a transaction

4. The Evolution
On the current, evolutionary tack, ERP vendors will steal the market.
For CM vendors, the surest path to extinction is to remain proprietary. And, it’s not just automating a cumbersome model – the Web won’t save you.
For FIs, the surest path to losing customers is to remain on proprietary solutions.
Is this your sales chart?

5. My Purpose Today
1. Inform: There is a better way to do business than one-off or roll-your-own solutions for connecting customers with their banks
There is no advantage to even more proprietary solutions
There are discernable patterns which have been identified and now need to be leveraged.
More…

6. My Purpose Today (continued)
2. Persuade: IFX embodies many of those patterns as the foundation for message structure and the machine-to-machine dialog
You can help identify and develop additional solutions / patterns as needed

7. Getting back to the problem…

8. “Swivelware” Aggregation
“The Aggravated Aggregator”
ERP

9. 4/5 Surveyed Would Prefer a Better Way

10. A Better Way
Rather than swivel, a model of standardized messages and processes enables better/faster/stronger integration of treasury functions and banks’ solutions
What we have here is… the blueprint for a portable software and messaging solution
Supports multiple interaction models
real-time
near-real-time
batch

11. Broadly Speaking, IFX is:
“A targeted Financial solution for connecting the business processes of members of a banking relationship.”

12. Simply Stated, IFX is: In business terms- In technical terms-
A robust set of business messages
A well-defined set of rules to carry on a business dialog
In technical terms-
An object model with well-defined attributes and methods for banking transactions

13. And More Specifically, IFX is:
A collection of messages necessary to build a distributed banking platform
Robust & complete - to accommodate most use cases and extensible to new uses
Business rules and expectations for each role in a distributed environment
Hype aside, it’s not about XML, it is about:
System to system communication
Orchestrating business processes between companies
Connecting internal and/or external systems

14. IFX: Just messages? No!

15. Consistent Message Names
ClassObjectPropertyMethodDirection
Class
Acct
Object
Bill
Pmt
Cust
Svc
Property
Bal
Status
Method
Add
Mod
Del/Can
Inq
Aud
Sync
Direction Rq Rs

16. Service Overview
Base Service
Banking Service
Pay Service
Bill Presentment Service
Valuable Media Service

17. SAMPLE! Msg Structure: PmtAdd
PmtAddRq
RqUID
AsyncRqUID
CustId, if the message is OBO
PmtInfo

18. SAMPLE! Message Structure: PmtAdd (continued)
PmtAddRs
RqUID, Echoed
AsyncRqUID, Echoed
CustId, Echoed
Status
PmtInfo, Echoed
PmtRec

19. Considerable Investments
Started in 1997
Intellectual Investments
30+ leading FIs from USA, Europe & Asia
Significant tool/platform vendors
Leading application vendors
Time Investments
70+ face-to-face meetings
550+ teleconferences
21,000+ person hours
2,800+ Box lunches…

20. What does IFX enable today ?
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

21. “BBWG” Addresses Your Needs
Balance and Transaction Reporting
Global Corporate Payment Model
Positive Pay Services
Comprehensive Remittance Model
Relationship of Accounts to Parties
Advise Message support for pushing info to other parties
Check Orders

22. BBWG Future Activities
Account Analysis
New Account Open
Tax Payments
Letter of Credit
Enhanced Foreign Exchange
Import/Export Support
STP
And You Could Help!

23. How Can You Learn More? www.ifxforum.org
The specification and supporting materials
User Guides
Watch IFX site for educational opportunities or attend a meeting
Contact me: