History of ASC X9
In 1984, the American National Standards Institute (ANSI) approved the scope of activity for the X9 Standards Committee on Banking, as "Standardization for Facilitating Banking Operations." Later, X9 expanded its membership beyond banks to include vendors, insurance companies, financial associations, retailers, securities professionals, regulators, and others in the financial services area. With this approval, the name was changed to X9, Financial Services.
ANSI first granted X9 official accreditation in 1984. The official committee name became as it remains today, Accredited Standards Committee (ASC) X9, Financial Services. Since this time, ASC X9 was incorporated under a 501c6 non profit designation for associations. ASC X9, Inc. operates under its own procedures in compliance with the American National Standards Institute's Essential Requirements.
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