The Open Banking Consortium, the electronic banking standards body set up by global banks, is to meet next month to set the ball rolling towards a standards framework for Internet commerce.
The group will initially discuss a description paper for the proposed framework. Set up at the beginning of the year, the body is currently made up of 12 banks including the UK's Lloyds/TSB plus IT suppliers including Unisys, Netscape, Microsoft and Sun Microsystems.
The group met last month to further discuss standards for electronic payment, security and messaging. Among its areas of concern are freedom for banks to choose financial sevices partners; the ability for customers to reach their banks through any network channel rather than proprietary links; and the maintenance of banks? traditional payment role in Internet-based transactions.
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