The Interactive Financial eXchange Forum is
set to lead a project to develop workable remittance standards.
The effort will be aimed at developing a right
approach to enhanced electronic remittance standards that will
benefit businesses of all sizes.
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The offer was preceded by a workshop at the
Federal Reserve Bank facility in Chicago, on understanding and
improving remittance data exchange and automated reconciliation of
payments in the US.
“The lively discussions at the workshop
provided representatives of the IFX Forum and the other standards
organizations in attendance a clear call to collaborate on the
development of workable remittance standards,” said Richard Urban,
president of IFC Forum.
“..the IFX Forum stands ready and willing to
lead a new collaboration with other attendees, including NACHA,
OAGI, SWIFT and X9. We invite other interested parties to join us
as well.”
A special category of Advisory Membership
has been created for the purposes of the project.
