ISO 20022 Working Group

Scope

The Working Group has been segmented into the following two Sub-Groups. These are looking to produce output mentioned in the Milestones below. 

1. Education and Benefits
2. APIs and Interoperability

Working Group Co-Chairs

Juliette Kennel, SWIFT
Giles Elliott, TATA Consultancy Services Limited

Milestones

Education and Benefits Sub-Group 

  • Improve and promote the available educational materials to facilitate the adoption of ISO 20022
  • Sponsor an annual survey to measure ISO 20022 adoption rates and provide feedback to the industry

APIs and Interoperability Sub-Group

  • Publish paper with ISSA position on need and business benefits to avoid APIs fragmentation by using Standards/IS0 20022. This will raise areas that need to be worked on by industry (e.g. repository and tools)
  • Identify flows where API could add value (in the CA space to start), and actively review where firms are focusing today and where we feel the highest benefits will be derived from. This will be done on a broad agnostic API solution basis expanding from CA.
    • SWIFT has set up an API WG and they will start work on a) identifying concrete use case b) modelling API – and then share outcome so that ISSA group can provide comments/input, and vice versa.
  • Once paper complete we can work on issues that have been highlighted (TBD)

Reports

  • Sibos Podcast (05/2021): Discussion on why ISSA wrote the ISO 20022 report, the contents of it and the next steps
  • ISO 20022 Report (04/2021) > PDF 340 kB
  • Background Reading and Context Document to explain ISO 20022 and changes from 2018 (06/2020) > PDF 420 kB

Institutions Represented by Experts in the Working Group

  • Aite Novarica
  • BNP Paribas Securities Services
  • BNY Mellon
  • Broadridge Financial Services
  • Brown Brothers Harriman 
  • Citibank
  • Clearstream
  • Credit Suisse Services
  • Deloitte
  • Depozitarul Central, Romania
  • Deutsche Bank
  • Euroclear
  • Fidelity Corporation Actions Solutions
  • FIS Global
  • HSBC
  • IHS Markit
  • ISSA
  • J.P. Morgan
  • Maroclear
  • National Settlement Depository, Russia
  • Nivaura Ltd.
  • SEB
  • SIX
  • Standard Chartered Bank
  • SWIFT
  • TATA Consultancy Services
  • The Stock Exchange of Thailand
  • UBS
  • VP Bank AG
  • WTax