ISO20022

Members

David Ezell <david_e3@verifone.com> (National Association of Convenience Stores (NACS))

Patrick Adler <patrick.adler@chi.frb.org> (Federal Reserve Bank of Minneapolis)

Vincent Kuntz <Vincent.Kuntz@swift.com> (ISO 20022 Registration Authority)

Kris Ketels <kris.ketels@swift.com> (ISO 20022 Registration Authority)

Frédéric Meignien <frederic.meignien@cantonconsulting.fr> (CANTON CONSULTING)

William Vanobberghen <William-Vanobberghen@cartes-bancaires.com> (Groupement des Cartes Bancaires)

Matt Saxon <Matt.Saxon@worldpay.com> (Worldpay)

Peter Potgieser <p.g.l.potgieser@planet.nl> (ISO 20022 Trade SEG Vice Convenor)

Send a mail to Kris Ketels if you want to join this group.

Goals

Institutions and applications want to streamline their communication infrastructure and associated costs by opting for a single, common "language" for all financial communications, whatever the business domain, the communication network and the counterparty. ISO 20022 is targeted at these standards initiatives that are generally driven by communities of users looking for more cost-effective communications to support specific financial business processes with a particular view of facilitating interoperability with other existing protocols.

Problem statement

Any purchase of goods results in a payment. Whether the merchant is in the virtual space or physical doesn’t matter. The payment instruments that are used to complete the payment are disparate but usually end up in a bank account transfer. The ISO 20022 repository already contains many of these flows. What is new is that the traditional payments model is now being extended with new payments instruments and new payments methods. For ISO 20022 this means existing flows need to be analysed to accommodate these new requirements.

The ISO 20022 methodology is implementation independent. This means that the flows specified at the logical level are independent from their implementation. The logical level could be used as a basis by W3C to develop message flows in the required syntax.

Deliverables

High-level Description

• A document specifying the differences between a WG-produced deliverable and the ISO2022 repository. This WG-produced deliverable specifies the web payments messaging requirements/flows. There are two area's currently identified that the group should focus on:

• SEPA) Credit Transfer, Direct Debit and PSD2 related flows
• Cards (specifically related to the ATICA messages)

• Work to enable ISO 20022 to consider required changes. This will be (one or a combination of) the following:

Case 1: Extension

Identify needed extensions (new message components or new compositions of existing components) to existing ISO20022 messages, and submit necessary requests to ISO20022. See more details on the 20022 development process.

Case 2: Restriction

• identify variants of existing messages and submit the necessary requests to ISO20022
• provide Usage Guidelines that outline the required adjustment.

See more information on the different ways to create subsets existing ISO 20022 messages.

Expected Deliverables

• Document describing mapping of ISO 20022 terminology and FPWD terminology

There are two choices for the target of the mapping:

https://www.w3.org/2015/04/wpay-glossary, or

https://www.w3.org/Payments/IG/wiki/Glossary

• More formal document for potential submission (timeframe tbd)
• Expectations to be validated by the IG:
  • The Harmonization Task Force will take over ownership of the Glossary.
  • The W3C will support a data repository for any generated ISO20022 definitions.

Dependencies

Input from the WPWG on the initial document.

Success criteria

Successful if WPWG flows and ISO20022 components and flows are aligned where possible.

Concerns

Milestones / Timeline

2 December 2015: present the proposal to and obtain buy-in from the ISO 20022 Registration Management Group

28 December 2015 : RMG approves the current proposal.