An announcement from the Interactive Financial Exchange (IFX) Forum describes the release of an updated Business Message Specification with an accompanying XML DTD and W3C XML Schema. The IFX Forum, "charged with developing a robust framework for the business-to-business exchange of financial data, released the enhanced version of its XML specification governing business-to-business transactions for the operation of ATMs, and the means to communicate corporate payments. The new version ultimately extends the reach of IFX into the business to business markets, laying a common foundation for marketplaces and ERP vendors to build products that can interact directly with their customers' banks. Utilizing Extensible Markup Language (XML), IFX 1.1.0 provides a framework that supports the exchange of information between (1) Cooperating financial institutions, (2) Financial institutions and cooperative consumer portals, and (3) Businesses and their financial service providers."

Enhancements featured in IFX 1.1.0 include: (1) The Asynchronous Processing support to allow a server that is unable to complete a response in a reasonable time to complete it at a later time. (2) The Debit and credit messages that authorize, commit and reverse debits and credits for use in self-service, point-of-sale, and other applications that involve debiting or crediting an account. (3) The Deposit Account Statement Inquiry message to support balance and transaction reporting as required in a corporate environment. (4) The Single Payment Add message to support business-to-business payment transactions.