08 December 2016

44975

Retired Member

2,018Posts 6,637,417Views 2,335Comments
A post relating to this item from Finextra:

The relationship with regulators

27 March 2014  |  6384 views  |  0
jameswhittle.jpg
James Whittle, head of industry dynamics, UK Payments Council, explains the challenges of implementing ISO 20022 and the relationship with regulators.

Advising Consultant, Chasm Management Limited

28 March 2014  |  1998 views  |  0
James, Thanks for a great overview of the approach to ISO20022 and SEPA! If one can regard ISO20022 as an ICD(Interface Control Document), and in many ways it is useful to do so, then I am a little disappointed that those of us who were around when EDI was being introduced cannot remember or have not been asked to remember the issues that faced us then and the manoeuvres we employed to avoid or accommodate them. James is absolutely correct in SEPArating (no pun intended) the specifications of the data being exchanged from the behaviours of the systems at each end of that exchange. By it's very definition, the ICD exists to allow the behaviours of the system at each end of the interchange to vary while not introducing necessary change in the other. So, we need to defuse discussions or arguments involving behaviours and our parochial need to accommodate them from definition of the data arising from those behaviours or causing unwanted processing on the recipient. Of course it is true that after discussions, we may need to alter the definition of a data element in the ICD, or to add or remove elements. So, let's remember how many, and which of, the 7 ISO levels we are involved in in each discussion and bound our comments within that scope. Here arises the need for a strong, fair, objective and knowledgable architect to monitor and guide participants, but the recognition of the problem that James introduces is an excellent start. Well done and thanks!!
TagsMobile & onlinePayments

Comments: (0)

Comment on this story (membership required)

Latest posts from Retired

An industry matured: highlights from Mobey Day 2016

18 October 2016  |  953 views  |  0 comments | recomends Recommends 0 TagsRetail bankingInnovation

Reorganising for the Age of Collaboration

27 September 2016  |  2534 views  |  0 comments | recomends Recommends 0

Fintech innovation in the B2B space has only just begun

12 September 2016  |  13654 views  |  1 comments | recomends Recommends 0 TagsPaymentsInnovation

Protecting Data with DLP

23 August 2016  |  5345 views  |  0 comments | recomends Recommends 0 TagsSecurityBrexit

How to end what ails online commerce

22 August 2016  |  4778 views  |  1 comments | recomends Recommends 0 TagsPaymentsTransaction banking

Retired's profile

job title
location
member since 2014
Summary profile See full profile »

Retired's expertise

What Retired reads
Retired writes about

Who's commenting on Retired's posts

Alex Aleksandrovski
Ketharaman Swaminathan
João Bohner
Steven Hatton
Graham Seel
Nikhil Thadani
Gerard Hergenroeder
Konstantin Rabin
Dharmesh Mistry
Matt Schofield
Anna Robert
Ian Davis