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IFX Forum Appoints Richard Urban to Newly Created Post of Full-Time President

The Interactive Financial eXchange (IFX) Forum's Board of Directors has announced its decision to restructure the role of Forum President as a full-time position, and has appointed Richard P. Urban to fill it.

The IFX Forum is an international non-profit industry association whose mission is to develop and promote the adoption of its open, interoperable standard for financial data exchange, the IFX Business Message Specification. Urban has served as the group's part-time President in a volunteer capacity since 2003.

"In order for the IFX Forum to continue to grow and flourish, the Board determined that this position was needed to properly concentrate on the emerging opportunities within the financial services and standards communities," said Richard DuVall of ACI Worldwide, Inc., the Forum's Chairman. "We're pleased that Rich Urban has accepted the position, and with his full-time involvement we anticipate a higher level of membership and cross-standards activities for the organization."

"The IFX Forum is already making a significant difference to standards initiatives in the financial services arena. I'm thrilled about this opportunity to take it to the next level," said Urban. "Our organization has thrived on the efforts of members and volunteers over the past 16 years and will continue to do so. My goal now is to expand upon those achievements and ensure that we can successfully tackle new challenges. "

In addition to developing the IFX messaging standard, the Forum actively engages in international standards activity, including longtime liaison efforts with ISO and contributions to ISO 20022, a leadership role in the Remittance Coalition set up by the U.S. Federal Reserve, and Memoranda of Understanding with ASC X9, BIAN and EPASOrg.

The IFX Forum's members and subscribers span 17 countries on five continents, and the Forum welcomes additional members to join in all its activities. More information can be found at http://www.ifxforum.org/join/. The Forum also hosts a free IFX Discussion Forum, where knowledgeable Forum members and other subject matter experts will answer IFX-related questions from the public. The specification is available at no charge at http://bms.ifxforum.org/.

About the IFX Forum

Founded in 1997, the Interactive Financial eXchange (IFX) Forum is an international not-for-profit industry association whose mission is to develop IFX and promote its adoption as an open, interoperable standard for financial data exchange, suitable for use by all sectors of the financial services industry. The IFX Forum also promotes interoperability of industry standards by working cooperatively with other standards organizations and consortia.

Forum membership is open to all organizations interested in contributing to the development of open financial standards. Forum members include financial institutions, hardware, software and service firms, and related non-profit groups. The IFX Forum is currently organized into the following Working Groups: ATM/POS; Branch Banking Services; Business Banking; Card Management & Servicing, Liaison & Interoperability, Loans; and SOA. IFX Forum Working Groups, in concert with an Architecture Committee to coordinate their efforts, develop open Internet-compatible messages for all sectors of the financial services industry. More information about IFX and the benefits of IFX Forum membership can be found at www.IFXForum.org.

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