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OFX Consortium Releases OFX 2.0.2 XML Schema

Thursday 22 January 2004 19:30 CET | News

The Open Financial Exchange (OFX) Consortium has announced the public availability of the OFX 2.0.2 XML Schema. This release enables financial institutions and their technology providers to build state-of-the-art OFX systems faster and more cost-effectively using the many off-the-shelf XML development systems that are currently available.

The new OFX 2.0.2 XML Schema is compliant with the World Wide Web Consortiums XML Schema Recommendation, 2 May 2001. It complements the existing OFX 2.0.2 specification and DTD (Document Type Definition) to enable software developers to utilize the latest in XML technology. Additionally, the new OFX XML Schema provides a clear expansion path to allow OFX to support other important XML technologies such as SOAP and WSDL. It also expands OFX to support account aggregation in a manner that conforms to the latest BITS Phase II Aggregation guidelines. As well as enabling financial institutions to connect to their customers, OFX can support connectivity within the systems of the financial institutions themselves. The OFX XML schema allows intra-enterprise-oriented tools to be developed using the latest XML technology that, while dedicated to internal purposes, also adheres to a recognized industry standard. This helps assure interoperability with other internal and external systems. The OFX 2.0.2 XML Schema was developed by the OFX Web services working group chaired by Business Logic. Other key contributors were Intuit, Microsoft and Citigroup. The consortium, which includes Intuit Inc., Microsoft, CheckFree Corp., Citigroup, TD Waterhouse and Corrillian Corp., has made the new schema available for review at (www.ofx.net) and is requesting that comments be submitted.


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Categories: Banking & Fintech | Online & Mobile Banking
Countries: World
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