ISO 20022 – A simple guide to a complex subject
The ISO 20022 catalogue of messages, as of January 2012, consists of 299 XML Schemas that cover a range of business domains. Over the past seven years, since the first ISO 20022-compliant XML message definitions were registered and published, the subject of ISO 20022 itself has taken up thousands of pages of printed and web-based media.
This white paper attempts to extract out the salient points from that ocean of content and provide the reader with the basic information that will hopefully provide the background necessary to navigate effectively the more detailed information that they may require.
Clearing and settlement: the new battleground for payments innovation
There is significant innovation and competition afoot in the world of payments initiation, driven by consumers and corporates on the demand side, and traditional banks, fintechs and challengers on the supply side.
This is mirrored by what can reasonably be called a revolution in the world of clearing and settlement. Real-time / instant payments, blockchain and distributed ledger, new solutions to the old problems of cross-border correspondent banking, and many other initiatives all have the potential to transform how payments are processed, cleared and settled.
Open Banking in a real-time world: preparing your payments systems for a continuum of of change
A common refrain from payments industry practitioners on the conference circuit during 2017 so far has been that there “has never been a more exciting time to work in payments”. No longer the stale backwater of the transaction banking world, the payments business has been reinvigorated by powerful change drivers: regulation, fast evolving technology, increasingly demanding customers and a vibrant competitive landscape, rich in innovative new entrants, to name but a few.
From backwater to wild water: strategies for success in payments transformations
For decades the payments industry has been a relatively quiet backwater, with “a payment is a payment” a common refrain. Stability and reliability were deemed to be the main virtues of the systems supporting the payments industry. Banks and their corporate clients operated large and complex systems that were focused on processing; innovation and change weren’t often discussed, and payments were not seen as a means of achieving competitive differentiation or client retention.
Best Practices in Implementing Payments Factories
The payment factory – a central hub to manage payment flows across the financial supply chain for a corporate – has gone mainstream. Corporates, already aware of the cost and efficiency benefits, have stopped asking “why?” – today, the big question is “how?”
This white paper examines a best practice approach to implementing an enterprise-wide payments factory, and details the origins and benefits of payments factories and the consequences of not implementing one..
Financial Services is undergoing some of the most far-reaching and wide-ranging regulatory changes in the form of new initiatives such as T2S, bringing new message, formats and protocols into the transaction lifecycle.
Building the In-House Corporate Bank
Corporate treasurers are being asked to support their constituent business units with payments, financing and investments, but the costs of financial messaging and data accuracy problems are proving difficult to justify. The smart response: Decouple the implementation of financial standards from the underlying business applications and banking relationships.
Corporate Actions Data Management
In anticipation of recovery from world recession, we can anticipate an explosion of capital raising and corporate restructuring. The resulting increase in volume of corporate actions over the next decade will exert increasing pressure on inefficient practices, processes and legacy systems.
Without mechanisms to expedite data flow and eliminate systemic obstacles to support efficient transactional processing and settlement, the industry can expect more risk and more costs associated with it.
Integration and Reference Data Management
In data management initiatives, a disciplined approach to data integration can not only eliminate costs and problems, but also help to expedite the immediate success and the long-term value to a firm.
This white paper examines the challenges and risks associated with integration, and details the benefits to be obtained by more conscious planning of integration strategy.
The financial services industry has to handle a plethora of message formats. The quest for performance and ultra-low latency sets the financial services industry apart from other sectors.
Grasp Control of Your Reference Data Environment
Efforts to increase automation and streamline processes to meet regulatory requirements and improve straight through processing, recognise that the areas of reference and market data handling offer potential for improvement, cost and risk reduction.
Introduction to Infrastructure Independent Message Modelling
Major financial institutions use message formats such as SWIFT, FIX, OCS, etc. when delivering STP business event detail to external entities or their trading partners. Many organisations recognise the value of generic internal business event messages, independent of these external formats.
Volante Technical Overview
This general introduction to Volante is targeted towards architects, development managers and technical staff facing data management challenges. Data management is a huge problem facing front-, middle- and back-office departments in the financial services industry.
SOA 20022 To Agility and Beyond
As yet more ISO 20022-based initiatives continue to be announced around the world, the pressure on organizations to implement and maintain efficient ISO 20022-based processing continues to grow. ISO 20022 is no longer the basis for one-off tactical projects. It now impacts multiple parallel running processes, projects and strategies across large swathes of the financial market landscape. Whether it is for international or local payment clearing, securities settlement, supply chain finance automation, funds administration or cash balance reporting, ISO 20022 has come to a town near you and is here to stay.