In 2014, DocuSign and other industry leaders announced a new global standard for secure, cloud-based Digital Transaction Management (DTM): xDTM. Fast forward a year, and the groundwork laid down by that team is really taking shape.
- The xDTM Standard Association announced the addition of sixteen C-level executives and security experts to its Governing Board, as well as the formation of a technical steering committee to build upon the initial foundational work done last year
- More than 300 organizations worldwide have endorsed the Standard
- The Association launched an xDTM website to keep visitors up to date on the latest happenings related to xDTM and also make it easy for individuals and organizations to get involved
And the industry energy around the Standard is strong. In a Forbes article, Roger Kay delves into the DTM movement, how “it’s better and everybody knows it,” and the collective storm around creating a set of standards. While he explores how a broad range of standards initiatives have played out in the past, I particularly like his coverage of how the Payment Card Industry Data Security Standard (PCI DSS) was broadly adopted and is still adhered to three revisions and nine years later.
Luckily, one of the members of the xDTM Governing Board is Eduardo Perez, senior vice president of risk strategy at Visa and a key force behind the launch of PCI DSS. Eduardo’s expertise – and the significant experience of the individuals and companies pushing to make xDTM a viable long-term standard – leaves me excited to see where the future takes us.