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Accredited Standards Committee X9, Inc.

Accredited Standards Committee X9, Inc. An Introduction to Financial Industry Global Standards. Agenda. Standards and standards types X9—the organization ANSI’s role ISO’s role International connection – management How should your organization get involved?. What are Standards?.

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Accredited Standards Committee X9, Inc.

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  1. Accredited Standards Committee X9, Inc. An Introduction toFinancial Industry Global Standards

  2. Agenda • Standards and standards types • X9—the organization • ANSI’s role • ISO’s role • International connection – management • How should your organization get involved?

  3. What are Standards? • How does government define Standards? • Types of Standards

  4. Types of Standards Voluntary Standards • Four types of Standards Mandatory Standards Definition Standards Performance SpecificationStandards: ManagementSystem Standards

  5. What is X9? • X9 was granted ANSI accreditation in 1984. • X9 is the premier standards developer for the Financial Services industry. • X9 is a leader in moving its standards globally for adoption as ISO standards.

  6. X9’s Objectives • Develop, establish, maintain, and promote standards for the Financial Services industry to facilitate the delivery of financial products. • Focus on current and future standards needs of the Financial Services industry. • Participate , promote and grow the development of international standards.

  7. X9’s Value • Provides leadership in financial standardization globally • Accredited international Secretariat • Payment Standards (including checks) • Retail/card processing Standards (domestic and international) • Lead in industry use of Standards to secure financial transactions. • Now leading ‘payment model’ internationally

  8. What is ANSI? • The American National Standards Institute is based in Washington, DC, and serves as the coordinating organization for the US voluntaryStandards system. • ANSI is a federation of industry firms, Standards developing organizations, trade associations, professional and technical societies,government, labor and consumer groups. • ANSI serves as the US member body of ISO.

  9. What is ANSI’s Role, what does ANSI add? • ANSI does not develop Standards • Facilitates development of American National Standards. • Accredits Standards developers. • Examines developers processes. • Coordinates and represents Standards in the US • Oversees the creation of Standards • Assess conformance to ANSI rules • Audits accredited organizations like X9 • Member body of ISO

  10. The X9 Organization • X9 is organized through committees and membership levels. • X9’s Board/consensus body acts as oversight and management group, determines the acceptance of a draft standard to be recommended to ANSI for acceptance as an American National Standard. • The consensus body also is the US vote to ISO TC68

  11. Board Organization • Board acts as the consensus body voting on acceptance/rejection of X9 standards. • Within the Board there are five management committees including: Executive Committee Finance Committee Policy andProcedures Marketing andMembership

  12. Board of Directors (consensus body) SUBCOMMITTEES Payments Credit Securities Data Security • CHECKS • CORPORATE • RETAIL • E-SIGN • CODES • MESSAGES • CRYPTOGRAPHY • APPLICATION • CARDHOLDER • AUTHENTICATION

  13. X9 Subcommittee Structure • Currently, the X9 organization consists of four subcommittees. • Each subcommittee has domain over subject areas—payments (cards/checks/corporate) credit, securities, and security—important to industry. • Working groups are a subset of each subcommittee they are organized when needed to develop standards for approval by the balanced consensus body.

  14. Working Groups • Working Groups are established by the Board or Subcommittee to deal with specific technical areas. • Working Groups contain the expertise to develop standards answers to issues facing the industry. • They may reorganize, become active to meet new industry challenges or upon completion of a body of work become inactive • Working groups are not permanent committees

  15. Who is ISO? • ISO is a network of the national standards institutes of 157 countries, on the basis of one member per country, with a Central Secretariat in Geneva, Switzerland, that coordinates the system. See www.iso.ch • ISO is a non-governmental organization: its members are not, as is the case in the United Nations system, delegations of national governments.

  16. What is TC68 to ISO (ISO TC68)? • TC68 is one of 230 – ISO technical committees – the only dedicated to financial standards • TC68 has produced more than 70 universally implemented financial standards – ISO has produced more than 25,000 international standards

  17. Why is X9 involved in ISO and how can you participate? • Make an informed choice in which standardization projects your company should participate; • Influence international standards development in such a way that the resulting standards are fit for your company to achieve its business targets; • Define difficulties in relating your participation directly to the business goals of your company; • Prioritize standardization activity your company should participate in; • Alternative approaches to standards development in case of common interests or conflicting interests;

  18. About ISO TC68 • TC68 is ISO’s designated standards development group for the Financial Services industry. • X9 (under ANSI) holds secretariat of TC68 and SC2, X9 members are active participants in developing and forwarding global standards. • Presently, the technical subcommittees under TC68—Security Management, Securities and Related Instruments, and Core Banking. • Currently leading 20022 effort on financial messaging, including payments, securities, trade/finance, e-invoice and more.

  19. ISO Technical Committee TC68 Financial Services UNIFI RMG SC2 Security SC4 Securities SC7 Banking WG4 UNIFI Review CARD SEG RA RMG members nominated by P-member countries and A-liaison organisations SEG members nominated by all member countries and liaison organisations SEG Securities SEG Trade Services SEG Payments SEG FX

  20. ISO Technical Committee 68 Financial Services – reporting committees • Subcommittee 2- Security • Subcommittee 4- Securities • Subcommittee 7- Core Banking • 20022 RMG reports to TC68 as does • TC68/WG4 revising ISO 20022

  21. Industry Payback – why join, why participate? • “X9 doesn’t cost, it pays.” • Influential in standard processes both domestically and internationally. • Skilled at development of voluntary consensus-based standards • Works with organizations not often part of the industry. • Needs total participation from industry.

  22. Additional Information Contact ASC X9, Inc. 1212 West Street, Suite 200 Annapolis, MD 21401 410 267-7707 www.x9.org

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