The History of X9
In 1974, the American National Standards Institute (ANSI) approved the scope of activity for the X9 Standards Committee on Banking, as “Standardization for Facilitating Banking Operations.” The X9 Standards Committee operated as part of the American Bankers Association and concentrated on check standards.
Expansion & Name Change
In June, 1976, the X9 Standards Committee approved expansion of its membership to include vendors, insurance companies, associations, retailers, regulators, and others in the financial services area. With this approval, the name was changed to X9, Financial Services.
ASC X9 participates in the development of international standards for the global financial services industry through the ISO Technical Committee for Financial Services TC68. ASC X9 is the USA Technical Advisory Group (TAG) to TC68 under the International Organization for Standardization (ISO), of Geneva, Switzerland. In this role, X9 holds the USA vote on all ISO standards of TC68 or its subcommittees SC2, SC8, and SC9. X9 further provides subject matter experts to develop international standards. ASC X9 also provides the secretariat function to TC68.
ASC X9 standards are widely used and recognized in the financial services industry. Many X9 standards are either cited or required by the Federal government for use in financial procedures and transactions. In addition, X9 standards are the basis for many international standards used in facilitating global commerce.