Since 2001, the deliberate technical focus for LIXI has been
on developing the required vocabularies and standards to meet
the objectives of the organisation – the removal of barriers
to electronic data exchange within the Australian lending industry.
Progress has been impressive by any measure. Using what has
been almost entirely voluntary labour, LIXI has been able to
assemble, test and document vocabularies which describe a substantial
amount of the transactions that make up the lending chain.
However while the initial version of the early work is now
largely complete, the focus of the Technical Sub-committee
is to now ensure that the vocabularies are successfully deployed
by the LIXI members. This work will be undertaken while planning
advances for the next round of development.
To this end it is the intention of the Sub-committee to engage
with the members of the working groups to find out about challenges
and issues that members may be facing with deployment.
In the coming weeks, people will see messages posted to mailing
lists that have been associated with existing working groups
asking for your feedback and comments. Your interest and effort
will be greatly appreciated in this exercise. We hope to make
as much of the discussion open to all members of LIXI and encourage
everyone to use the public lists in the hope of stimulating
discussion and bringing problems to the surface.
Thanks in advance!
Working group activities
Products: The task of devising a standard way of describing
loan products has proven (not unexpectedly) to be rather challenging
for LIXI, with some participants expressing strong and sometimes
conflicting views. Needless to say this is not an unusual situation
but it does make it difficult to predict how long it will take
to publish a practical standard in this area. More news regarding
the Product working group will be available soon.
Commissions: Following concerns expressed by some members regarding
minor functional gaps in the Commissions standard, we have
re-opened the Commissions online requirements for comment.
Please feel free to contribute to this discussion on the LIXI
website.
Business Process: Our joint venture with National ICT Australia
(NICTA) has been proceeding steadily with numerous LIXI members
contributing their domain expertise to enable NICTA to develop
a reference model for loan processing. A “LIXI Process
Handbook” will be published shortly to give members an
early look at the deliverables from this project.
Also, a new working group looking at the exchange of data between
loan processing and loan servicing systems has been proposed.
An announcement regarding an initial meeting for this working
group will be made in the near future.
Chair – LIXI Technical Sub-committee
Chair – LIXI Technical Director
The Lending Industry XML Initiative
LIXI is a trade mark of LIXI Limited
ABN 53 095 299 835
