Standards Developer Looks to 30th Anniversary in Service to Financial Industry
Posted by Ambria Frazier
The Accredited Standards Committee X9 (ASCX9) will mark its 30th year in 2014 as an ANSI* Accredited Standards Developer (ASD) and, as the sole ASD developing “financial industry” standards. In this time X9 has developed and promulgated more than 200 standards and technical reports which have benefitted the financial services/banking industry to achieve the level of electronic operations that exist in banking and financial services today.
In 1984 the Accredited National Standards Institute (ANSI) awarded X9 full accreditation to develop and promulgate American National Standards using both its own name “X9” and using the ANSI or American National Standard name. Prior to this time, a business committee within the American Bankers Association prepared ad hoc standards on bank cards, messaging, and checks. The credentialing as an ANSI accredited standards developer continues to provide X9 with the assurance that members adhere to rules of governance when in the standards development and review process.
Since 2001 when X9 became an independent association with its sole focus on financial industry standards development, X9 has widened its membership base while taking on new technical standards development areas for payments, securities transactions/operations and electronic data security among other areas. Also, expanding membership adding many industry vendors and technical suppliers to its consensus-based standards organization.
In time X9 financial industry standards, its members and business benefit have become a world leader in technical standards development for financial institutions. Today, X9 serves as Secretariat/Administration of the Technical Committee 68 (TC68) of the International Standards Organization (ISO) of Geneva, Switzerland. One of the oldest technical committees (since 1948) and one of 200 technical committees developing standards however the only one dedicated to financial industry standards…
Plans call for X9 to celebrate its 30th Anniversary with a review over time of the X9 story during its
annual meeting in Minneapolis in October 2014.
*The American National Standards Institute