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IFX Working Groups. ISTH – International Standards Team Harmonisation. Agenda. Purpose of group Participating members Key content developed by group Business processes impact Current focus. Purpose.
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IFX Working Groups ISTH – International Standards Team Harmonisation
Agenda • Purpose of group • Participating members • Key content developed by group • Business processes impact • Current focus
Purpose • Collectively seek to drive a single core payment XML kernel that can be used globally by any corporate irrespective of size and sector and by any servicing bank irrespective of location • Agree upon business model • Recommend a core payment • Identify a method of interoperability • Define payment instruction components and related advise/status messages
Members • IFX Forum • Bank of America, Wells Fargo, Citibank • OAGi • OAGi, Oracle • SWIFT • TWIST • TWIST, ABN Amro, JPMorgan Chase
Key Content • ISO 20022 messages • Customer Credit Transfer Initiation V2 • Customer Direct Debit Initiation V1 • Payment Status Report V2 • Bank to Customer Account Report V1 • Bank to Customer Statement V1 • Bank to Customer Debit Credit Notification V1 • ISO 20022 Message User Guides (MUG)
Business Process Impact • Market infrastructure • SEPA • NACHA • Federal Reserve • Banks • Bank of America • BNP Paribas • Citibank • HSBC • JPMorgan Chase • Nordea • RBS • Societe Generale • Corporate organizations • GE • Microsoft • Nokia • IKEA • Merck • Johnson and Johnson • Pfizer • Many others • Application vendors • Oracle • SAP • Sungard • WallStreet
Current Focus • ISO 20022 Maintenance Change Request 2009 • Over 100 change requests • Results in new versions of messages in Q2 2009 • ISO 20022 MUG • Update to Credit Transfer, Direct Debit and Payment Status • Creation of Bank to Customer Cash Management