The revised ISO 20022 Series on “Financial services — Universal financial industry message scheme” has just been released and the 8 updated standards are all available now. The ISO 20022 Series standards were developed in the 1990’s to ensure consistent descriptions of messages throughout the financial services industry. The new 2013 Editions are technical revisions, making the prior editions obsolete.
Using open technology standards, the ISO 20022 Series builds a framework for a model-driven approach. The messaging participants develop a protocol for information exchange. The model is based on 4 levels of information: Scope, Conceptual, Logical and Physical. Then the resulting data schemes are registered in a central repository.
The repository has two areas: a DataDictionary with the industry model elements that are likely to be reused and a BusinessProcessCatalogue containing specific message definitions and business processes, as well as physical syntax implementations. The data uses XML tagging.
Here’s the list of the new ISO 20022 series releases:
- ISO 20022-1:2013, Financial services — Universal financial industry message scheme — Part 1: Metamodel
- ISO 20022-2:2013, Financial services — Universal financial industry message scheme — Part 2: UML profile
- ISO 20022-3:2013, Financial services — Universal financial industry message scheme — Part 3: Modelling
- ISO 20022-4:2013, Financial services — Universal financial industry message scheme — Part 4: XML Schema generation
- ISO 20022-5:2013, Financial services — Universal financial industry message scheme — Part 5: Reverse engineering
- ISO 20022-6:2013, Financial services — Universal financial industry message scheme — Part 6: Message transport characteristics
- ISO 20022-7:2013, Financial services — Universal financial industry message scheme — Part 7: Registration
- ISO 20022-8:2013, Financial services — Universal financial industry message scheme — Part 8: ASN.1 generation
ISO has set up a special area to support the ISO 20022 series implementers. You’ll find it at the ISO 20022 message dashboard.
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