Interactive Financial Exchange (IFX) is an XML

XML

Extensible Markup Language is a set of rules for encoding documents in machine-readable form. It is defined in the XML 1.0 Specification produced by the W3C, and several other related specifications, all gratis open standards....

 specification for financial transactions such as bill

Bill (payment)

A bill or invoice is a document requesting payment for an order previously supplied. Presentation of a bill is common practice on the part of credit card companies, utilities, and other service providers...

 presentment and payment, business to business and consumer to business banking (e.g.: balances, financial transaction

Financial transaction

A financial transaction is an event or condition under the contract between a buyer and a seller to exchange an asset for payment. It involves a change in the status of the finances of two or more businesses or individuals.-History:...

 information), payment

Payment

A payment is the transfer of wealth from one party to another. A payment is usually made in exchange for the provision of goods, services or both, or to fulfill a legal obligation....

s and automated teller machine

Automated teller machine

An automated teller machine or automatic teller machine, also known as a Cashpoint , cash machine or sometimes a hole in the wall in British English, is a computerised telecommunications device that provides the clients of a financial institution with access to financial transactions in a public...

 (ATM) communications.

It is being developed and maintained by a consortium

Consortium

A consortium is an association of two or more individuals, companies, organizations or governments with the objective of participating in a common activity or pooling their resources for achieving a common goal....

of individuals representing financial and information technology companies.

External links

• Organisation: Interactive Financial eXchange Forum
• Specification: http://www.ifxforum.org/standards/