Wells Fargo Services Company. Interactive Financia

1
Cash Management Forum

• Mark SB Tiggas
• Chairman, IFX Forum
• Sr. Vice President
• Wells Fargo Services Company

2
Agenda

• The Problem/Requirements
• Describe IFX
• How IFX is the natural solution to couple a bank
  and its Cash Management customers
• How IFX is the obvious, evolutionary step for
  Cash Management vendors
• Activities underway

3
The Problem

• Linking commercial banking customers business
  applications with their banks Cash Management
  systems
• I-N-T-E-G-R-A-T-I-O-N
• One-click in my ERP yields a completed
  transaction at my bank(s) and/or other parties
• Status visibility to understand progress
  throughout the life of a transaction

4
The Evolution

• On the current, evolutionary tack, ERP vendors
  will steal the market.
• For CM vendors, the surest path to extinction is
  to remain proprietary. And, its not just
  automating a cumbersome model the Web wont
  save you.
• For FIs, the surest path to losing customers is
  to remain on proprietary solutions.

Is this your sales chart?
5
My Purpose Today

• 1. Inform There is a better way to do business
  than one-off or roll-your-own solutions for
  connecting customers with their banks
• There is no advantage to even more proprietary
  solutions
• There are discernable patterns which have been
  identified and now need to be leveraged.
• More

6
My Purpose Today (continued)

• 2. Persuade IFX embodies many of those patterns
  as the foundation for message structure and the
  machine-to-machine dialog
• You can help identify and develop additional
  solutions / patterns as needed

7
Getting back to the problem
8
Swivelware Aggregation
The Aggravated Aggregator
ERP
9
4/5 Surveyed Would Prefer a Better Way
10
A Better Way

• Rather than swivel, a model of standardized
  messages and processes enables
  better/faster/stronger integration of treasury
  functions and banks solutions
• What we have here is the blueprint for a
  portable software and messaging solution
• Supports multiple interaction models
• real-time
• near-real-time
• batch

11
Broadly Speaking, IFX is

• A targeted Financial solution for connecting the
  business processes of members of a banking
  relationship.

12
Simply Stated, IFX is

• In business terms-
• A robust set of business messages
• A well-defined set of rules to carry on a
  business dialog

• In technical terms-
• An object model with well-defined attributes and
  methods for banking transactions

13
And More Specifically, IFX is

• A collection of messages necessary to build a
  distributed banking platform
• Robust complete - to accommodate most use cases
  and extensible to new uses
• Business rules and expectations for each role in
  a distributed environment
• Hype aside, its not about XML, it is about
• System to system communication
• Orchestrating business processes between
  companies
• Connecting internal and/or external systems

14
IFX Just messages? No!
15
Consistent Message Names
ClassObjectPropertyMethodDirection

• Class
• Acct
• Object
• Bill
• Pmt
• Cust
• Svc
• Property
• Bal
• Status

• Method
• Add
• Mod
• Del/Can
• Inq
• Aud
• Sync
• Direction
• Rq
• Rs

16
Service Overview

• Base Service
• Banking Service
• Pay Service
• Bill Presentment Service
• Valuable Media Service

17
SAMPLE! Msg Structure PmtAdd

• PmtAddRq
• RqUID
• AsyncRqUID
• CustId, if the message is OBO
• PmtInfo

18
SAMPLE! Message Structure PmtAdd (continued)

• PmtAddRs
• RqUID, Echoed
• AsyncRqUID, Echoed
• CustId, Echoed
• Status
• PmtInfo, Echoed
• PmtRec

19
Considerable Investments

• Started in 1997
• Intellectual Investments
• 30 leading FIs from USA, Europe Asia
• Significant tool/platform vendors
• Leading application vendors
• Time Investments
• 70 face-to-face meetings
• 550 teleconferences
• 21,000 person hours
• 2,800 Box lunches

20
What does IFX enable today ?

• Communication of account information and
  transactions for Banking such as Balance Inquiry,
  Credit, Debit and Credit Card, etc.
• Communication of Payments and Remittance
  transactions for Business and Consumer
• The exchange of Bill Presentment information
• Device communications for Debit, Credit and ATM
  Valuable Media - money, stamps, etc.
• Supports the exchange of Property and Casualty
  Insurance information

Insurance Messages are developed and maintained
by ACORD?
21
BBWG Addresses Your Needs

• Balance and Transaction Reporting
• Global Corporate Payment Model
• Positive Pay Services
• Comprehensive Remittance Model
• Relationship of Accounts to Parties
• Advise Message support for pushing info to other
  parties
• Check Orders

22
BBWG Future Activities

• Account Analysis
• New Account Open
• Tax Payments
• Letter of Credit
• Enhanced Foreign Exchange
• Import/Export Support
• STP
• And You Could Help!

23
How Can You Learn More?

• www.ifxforum.org
• The specification and supporting materials
• User Guides
• Watch IFX site for educational opportunities or
  attend a meeting
• Contact me Mark.Tiggas_at_WellsFargo.com