Standards in a Changing World Points for Consideration - PowerPoint PPT Presentation

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Standards in a Changing World Points for Consideration

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  1. Standards in a Changing WorldPoints for Consideration Dexter S. Holt Chairman, X9 Payments Subcommittee IFX Panel Discussion 11/17/2008

  2. Selected Trends • Globalization of business and finance • Influence of the European Union and its trading partners • Integration of business information • Consolidation of financial industry • Aging of core payments infrastructure • What drives businesses to need to change? • Emerging standardization techniques and architectures • How might this influence standards development? • Evolving payment processes • What could be the impact of emerging processes? IFX' Tenth Anniversay

  3. Standards facilitate automated processes • Standards • Assist in linking related information • Reducing errors and re-work • Assuring compliance • Many standards • Organizations • Legacy proprietary formats • Future Standards Evolution • Harmonization • Convergence • Interoperability IFX' Tenth Anniversay

  4. Active Cooperation • Put a higher priority on focused dialog among standards organizations • Analyze and understand end-to-end infrastructures and implemented “standards” • Obtain a mutual understanding of where efforts complement one another, overlap or potentially conflict IFX' Tenth Anniversay