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[ontolog-forum] Harmonization in the news

To: <ontolog-forum@xxxxxxxxxxxxxxxx>
From: "Brian (Bo) Newman" <bo.newman@xxxxxxxxxxxx>
Date: Thu, 13 Nov 2003 15:35:22 -0800
Message-id: <>
Ontolog Members    (01)

Given the interest of some members of the UBL committee in the application 
of ontological solutions to the problem of Harmonization, I thought this 
might be of interest to the group    (02)

- Bo Newman -
  ============================    (03)

New standard aims to "harmonize" XML payment messaging
By Rich Seeley    (04)

A new XML standard for payment messaging is under development as part of an 
agreement between several standards bodies -- Open Applications Group 
(OAGi), Interactive Financial eXchange (IFX), Society for Worldwide 
Interbank Financial Telecommunication (Swift) and Treasury Workstation 
Integration Standards Team (Twist).    (05)

The standards groups met jointly at a conference this month hosted by 
Gartner Inc., Stamford, Conn., and signed a "Memorandum of Understanding" 
to support the new standard, according to OAGi. The planned XML standard is 
part of the International Standards Team Harmonization initiative with 
participation by major banks, including Bank of America, Citibank, Deutsche 
Bank AG, JPMorgan Chase and Wells Fargo. RosettaNet also endorses the 
harmonization effort, according to a related announcement this week by IFX 
Forum (http://www.IFXForum.org).    (06)

The harmonization effort will attempt "to drive a single Core Payment XML 
'Kernel' that can be used globally by any corporation regardless of size 
and sector and by any servicing bank in any location," according to the 
OAGi announcement. Vendors supporting OAGi work include IBM, Oracle, 
PeopleSoft and Sterling Commerce.    (07)

The procedure posted on the OAGi Web site 
(http://www.openapplications.org/) for the harmonization effort includes:    (08)

* To identify and resolve content differences between the messages so a 
single set of content can be used; * Recommend a common core payment that 
can be accepted into each of the standards bodies for use; and * Establish 
a method of interoperability that allows the Core Payment XML Kernel to 
have extended or related messages packaged with it.    (09)

For the rest of this article, please go to 
http://www.adtmag.com/article.asp?id=8506    (010)

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