ISO 20022 is not only a suite of message standards but a procedure proposed by the International Organization for Standardization (ISO) to develop message standards for all domains of the financial industry. In September 2013, SWIFT (Society for Worldwide Interbank Financial Telecommunication) launched the free of charge ‘ISO 20022 Adoption mApp’. The app was developed by the Standards Forum. The Forum is organised by SWIFT Standards with the support of financial institutions, leading standardisers, market practice groups, standards organisations and vendors. In this blog (see ‘related links’ below), Chantal Van Es of the Standards Forum introduces the ‘ISO 20022 Adoption mApp’.
This new mobile app provides an easy-to-use global overview of currently more than 60 initiatives adopting ISO 20022 as their messaging standard for financial business transactions. The ‘ISO 20022 Adoption mApp’ collates information otherwise only available across multiple global websites. The tool will facilitate adoption and foster dialogue, and will therefore prove a valuable resource for stakeholders already implementing the standard, as well as those considering the adoption of ISO 20022.
The Credit Transfer and Direct Debit Schemes and adjacent implementation guidelines are based on the ISO 20022 messages standards. The roll-out of the Single Euro Payments Area (), therefore, represents one of the initiatives that pioneered broad-scale adoption of ISO 20022. The implementation of the ISO 20022 message standards within the context is also described by the new ‘ISO 20022 Adoption mApp’.
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