The innovation enabler: What ISO 20022 can do for market infrastructures and their users

711 2017-10-16T15:30:00.000Z

roomCode
711
Room
Standards Forum - Sessions
Date
-
CEO of BankservAfrica
BankservAfrica
Executive Director, Head, Custody Services Transaction Banking
Standard Chartered
CEO of Clearstream Banking
Clearstream Banking
Head of Cash and Clearing Products Americas, Cash Management
Deutsche Bank
Director, Modernization
Payments Canada
Siegfried  Vonderau
Head of Division TARGET2 / T2S Services Management
Deutsche Bundesbank

Every major financial market infrastructure (FMI) has now adopted or agreed to adopt the ISO 20022 standard by 2020-2025. This is already making it easier for FMIs and their users to exchange information across borders and, as the ISO 20022 standard becomes universal, it will yield major reductions in operational cost and risk. FMIs will be able to inter-operate more easily. Banks using FMI services will be able to access infrastructural services through a standard interface. But the benefits do not stop there. ISO 20022 is already being applied to information exchanged through distributed ledger technology (DLT), opening the possibility of inter-operability between DLT networks. In this session, FMIs will explain how ISO 20022 is helping them cut costs and risks, win more business and adopt new technologies.