Wave Systems Corp. (fka WAVXQ)

[helpfulbacteria]

Interesting FSTC Presentation Re: FIXS/EAP...

]b] (In May of this year, a fellow from FSTC, a financial services technology organization--more on them in a moment--made a presentation to the Object Management Group. )

http://www.omg.org/docs/finance/05-06-05.pdf

“The Object Management Group (OMG) is an open membership, not-for-profit consortium that produces and maintains computer industry specifications for interoperable enterprise applications. Our membership includes virtually every large company in the computer industry, and hundreds of smaller ones. Most of the companies that shape enterprise and Internet computing today are represented on our Board of Directors.
Our flagship specification is the multi-platform Model Driven Architecture (MDA), recently underway but already well known in the industry. It is based on the modeling specifications the MOF, the UML, XMI, and CWM. OMG's own middleware platform is CORBA, which includes the Interface Definition Language OMG IDL, and protocol IIOP. The Object Management Architecture (OMA) defines standard services that will carry over into MDA work shortly. OMG Task Forces standardize Domain Facilities in industries such as healthcare, manufacturing, telecommunications, and others.

All of our specifications may be downloaded without charge from our website. Products implementing OMG specifications are available from hundreds of sources. Our success-stories website documents hundreds of mission-critical CORBA applications in use today. And, these companies and organizations have committed to CORBA as their interoperability architecture.”

(Here's the FSTC presenter: a banker from University Bank)


Michael M. Talley
• Lead Independent Director & Audit Committee Chairman, University Bank
• Chairman, FSTC’s Council for Community Banks & Member, FSTC’s Security & Business Continuity Committees

(Here are some relevant slides from the presentation. FI's is an abbreviation for Financial Institutions. Note how he combines EAP and FIXS. Barge, these slides are taken out of order and somewhat out of context.)

Large FI’s of FSTC
• Conducting a “Mutual Authentication” project.
• Starting with the deployed “One Time Password Systems, (OPTS)
• Develop a blue print for consistency and interoperability.

The Idea!!!!!
• The view of the Industry is that all FI’s should be included in the model.
• Instead of having vendors develop requirements for one institution, why not have industry develop requirements for the vendors as an industry?

Security Methods
• Regardless of the technology used, the process should be automated and they should interoperate.
• Should allow for “data sharing”.
• Reduce costs.
• Reduce customer confusion.

New Projects.
• FSTC: Data Sharing and Management.
• EAP: the FiXs Federation.
• Cleveland Fed/NACHA.

EAP
• EAP now has a “Charter”.
• EAP has a “Board”.
• EAP has a mandate.
• EAP has members who are paying dues.
• EAP has a first “project”.
• The FiXs Federation.

The Federation.
• Spearheaded by EDS. Pub./Pri.
• Has a Council and a set of rules.
• Has a Trust Model Infrastructure and Security Solutions.
• DoD/Bearing Point, Intelli-Check, NACHAare members.
• Meeting in San Francisco in August.

(Now, who is the FSTC?)


www.fstc.org

About FSTC
The Financial Services Technology Consortium was created in 1993 by leading financial services organizations so they could work collaboratively in a non-competitive, open forum to solve shared problems and challenges.

Today more than 200 members from the top North American financial services and technology firms, academic institutions, and government agencies regularly come together to discuss and research today’s technology issues and tomorrow’s technology related needs. With direction from our members, FSTC Standing Committees sponsor collaborative research projects, technology development pilots, proofs-of-concepts tests, and more.

MY INTERPRETATION

It seems to me that various organizations, beginning with the EAP are seeing FIXS as a "live wire"... and they want to participate. NACHA. FSTC. This is getting interesting. I'm not sure what to make of the EDS "spearheaded" remark... because it appears to me that Nortrhop Grumman has taken a leadership role. But, come to think of it... given EDS' HUGE banking and financial services business... maybe they're taking the lead in THIS part of the FEDERATION getting established.

Best Regards,

c m