20 July 2018
Paul Miserez

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Paul Miserez - SWIFT

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Standards Forum

The Standards Forum is the place where business and standardisation meet. This group would like to facilitate and encourage dialogue around standardisation in the financial industry, and share views, insights and updates on how financial standards can contribute to reducing cost and increasing efficiency when tackling today's challenges such as automation, compliance, and regulation.

Sibos Standards Forum, Singapore, 12 to 15 October 2015: Where standards mean business

18 August 2015  |  5913 views  |  0

Let us remind ourselves of the reasons why people and organizations want to standardize complex and costly processes. It is to reduce cost. That is exactly where standards can be a catalyst and the standards forum a voice. From 12 till 15 October 2015, a legion of standards enthusiasts representing banks, analysts, regulators, vendors and academics alike will once again gather at Sibos to connect, debate and collaborate.

In 2014, the Standards Forum’s main focus was on standardization and harmonization to address regulatory compliance and to support innovation. In keeping with current industry trends such as globalization, regulation and consumption economics, each day of this year’s forum will be dedicated to one of the following four themes:

"Global standards to meet local needs"

On its opening day, the Standards Forum will welcome a number of Asia Pacific transformational initiatives that are adopting ISO 20022 to offer new, exciting services. Whether in China, India, Japan or Singapore, ISO 20022 is hot and is happening as we speak. Come and hear about the business case from the pioneers! 

Coordinating the roll-out of ISO 20022

How can we ensure a harmonized and controlled roll-out of the standard, reducing the overall cost of adoption and ensuring all business opportunities the standard offers are exploited? More than twenty market infrastructures are currently involved in developing an ISO 20022 harmonization framework. This should introduce consistency and predictability pertaining to the roll-out of ISO 20022 for all business areas and financial institutions worldwide. On this day at the Standards Forum, you will hear from some of the world’s top market infrastructures what is the role of global market practice and why you should get involved.

Standards as an enabler for regulatory compliance and risk management

The intersection of standards and regulation has been a recurring topic at recent Standards Forums at Sibos. The financial industry continues to be confronted with new challenges, from regulation to competition, and increasing customer expectations. Additionally, ISO 20022 is emerging as the preferred choice of messaging standard for financial market infrastructures (FMIs) around the world, and it is also gaining traction in the corporate-to-bank space. How relevant are standards in tackling regulatory compliance and what are the opportunities for innovation? Come and witness how the industry is moving from talk to action! 

Standards as an enabler for new services

On the Sibos closing day, we will make another case for the key benefits of standards: enhancing STP, reducing cost and managing risk. From increasing efficiency in RMB transactions to streamlining trade reporting, standards mean better business. Join this session to ‘like’ your favourite new standards idea and help us to set the beacons for more standardization.

The final Standards Forum programme will soon be published on www.sibos.com

We at SWIFT would like to hear about your ISO 20022 plans, experiences and questions. As of the first week of September we will launch a series of questions on Finextra called "Making ISO 20022 work for you". Questions will be related to ISO 20022 benefits and implementation aspects. We will continue this series on a regular basis until Sibos. Some of your input will be selected to be discussed at the Standards Forum’s closing day. We would like to thank you in advance for your participation.

We hope to welcome you in Singapore!

 

Contact us via e-mail: standards.forum@swift.com

Follow us on Twitter: @StandardsForum #SFSibos

Join the conversation on our LinkedIn group

 

TagsRisk & regulationSibos

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