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  • Costs to dip as banks standardise on XML

    Firms could save time and money as banks move to adopt a standardised format for communicating with businesses' accounting software.
    XML is a widely used method for labelling data so it can be easily recognised by different software programs. HSBC has implemented XML file exchanges for financial data in what it says is a first for New Zealand.
    Spokeswoman Cath Henry says some clients are now using the format, which lets them download statements into their systems and submit payment instructions to the bank.
    Banks use a range of messaging formats and firms sometimes have to tweak their systems to communicate easily with those used by banks, she says. "This single universal standard is saving corporates a lot of money and makes life easier for them in terms of not having to use the alternative proprietary formats with each of their banking relationships."
    BNZ spokeswoman Erica Lloyd says it is about to launch a "processing channel" for business clients that will let them use XML to access account information and facilitate payments.
    ASB chief operations officer Russell Jones says it tailors XML file format support for business customers, "depending on their business needs and commercial constraints".
    Computer Society chief executive Paul Matthews says most data transfers between computer programs today are done using an XML format.
    The move by banks to pick up the format will not revolutionise the way businesses interact with banks, but will make it easier for software developers building accounting packages, he says.
    "It is quite important from a software perspective because in the current situation banks sometimes do use different formats. For example, the Quicken Interchange Format is the most common one, but the problem with that is some banks use four digits for the year, others use two and some banks have the month and the date around in the American style."
    Most banks support four or five different formats for exchanging data, and most of the main business software programs should support XML or be close to doing so, he says.
    Deloitte partner Faris Azimullah says banks will be able to easily assess their business activities, such as credit lending and exposure, if they know exactly what data firms have supplied them with.
    Businesses will benefit more from the move because they will no longer have to clarify with banks what data they have sent through.
    "Once you've cracked the nut in terms of what the bank wants and established and tagged that data ... you can share that information by pressing a button."

  • Oracle loses XML co-inventor to Google

    One ex-Sun Microsystems employee who will not be cashing an Oracle paycheck is XML co-inventor Tim Bray, who has opted instead to work for the Google.

  • Microsoft gets reprieve in Word case

    An appeals court has granted Microsoft's request to put off an injunction that could have forced it to stop selling its Microsoft Word software next month.

  • Quark acquires XML specialist

    Quark has acquired In.vision Research, makers of Xpress Author for Microsoft Word. Details of the acquisition were not disclosed.

  • Open Source Society claims patent win

    The New Zealand Open Source Society (NZOSS) is claiming a moral victory over Microsoft’s patent of XML schema after the software giant made changes to its patent.

  • Sun’s spanning tree creator speaks out

    One week I get to see Tim Berners-Lee, the Father of the web, and the next week I get to meet with the “Mother of the internet”. What more could a networking editor ask for?

  • Layer 7 pumps up XML security with upgrade

    Layer 7 Technologies has upgraded the operating system of its XML network appliances, adding features that let users apply consistent security policies across device clusters.

  • M-co made its own way to SOA

    Electricity wholesale market platform company M-co, also called the Marketplace Company, has been on an adventurous journey towards service-orientated achitecture (SOA). It is set to become a web-service enabled organisation, with the aid of internet-based trading system, Comit.

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