What Is Financial Services Markup Language (FSML)?
In old age, you would have had to complete a lot of paperwork to send someone money. Thanks to FSML, all you have to do is write a quick email! FSML is a markup language based on SGML, designed to facilitate the efficient transfer and sharing of financial documents over the Internet. The delivery of e-checks, associated documents, and financial records are also facilitated with the help of FSML. Like other markup languages, The FSML markup language defines the financial information items that comprise a document. It has been extended to include a full range of payment mechanisms since its original purpose was to ensure the secure transmission of e-checks by email. The Financial Services Markup Language (FSML) is like a modern-day Rosetta Stone—it allows you to translate your financial documents from one language into another. FSML is a particular type of markup language that enables the delivery of finance-related documents and information across the Internet. It has its own set of markup tags, syntax and semantics to efficiently transfer financial information and related documents. When you think about it, the idea of economic systems is pretty mind-blowing. The fact that we can send money from one person to another using a computer and an internet connection is almost as incredible as the fact that we can cook up a hot pot of ramen noodles in the microwave and eat it cold in less than 3 minutes. But what's even more incredible is how reliable all this stuff is. We're talking about millions of dollars being transferred from one account to another and back again every second, with not a single penny missing or duplicated along the way. And all this happens in an environment where electricity outages (and even total power failures) can cause problems with our online data storage facilities—yet the system still works flawlessly! They're fans of Financial Services Markup Language (FSML). It's simple and elegant and gets the job done every time.
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