Chatroom ISO 20022 Business Model
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Transcript of Chatroom ISO 20022 Business Model
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Standards Forum
How to model my own business process
based on existing ISO 20022 business processes
November 07, 2014
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Chatroom:
“How to model my own business process based on
existing ISO 20022 business processes”
Agenda
1. Challenge: “provide specification of business element used in your
own solution”
2. Challenge: “provide business process specification of your own
service”
i. worked example: reduce a market practice business process
ii. Worked example: extend a market practice business process
3. Sneak preview of current work on-going at the ISO 20022 Technical
Support Group (TSG)
4. Resources available on www.ISO20022.org
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Slide #1
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1.) ISO 20022 Business Model: Domains / Business Processes
ISO 20022 domains Business Processes
Payments Payments
Credit Transfer
Direct Debit
Bank Account Management
Exceptions and Investigations
Commercial Trade
Invoice Financing
Guarantees
Securities Securities Settlement and Reconciliation
Securities Order
Post Trade Matching
Collateral
Corporate Action
Proxy Voting
Investment Funds
Trade services Treasury
Cards etc
FX etc
Slide #2
Your challenge “provide specification of business element used in your own solution”
Your starting point use existing ISO 20022 business model as starting point from where to drill down
Your approach Drill down to applicable business process, business component, business element and
message element
Worked example Specify how to identify a party in your own solution
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Party Identification
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Slide #2
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Business Components
PartyIdentification & OrganisationIdentification
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Slide #2
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Message Components and traces
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Slide #2
Based on the ISO 20022 Business Components, you can define
your own subset Message Component
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Message Components and traces
7
Slide #2
Many other combinations already exist
If no existing Message Component meets your needs
• Define your own and submit to ISO 20022
• Define your subsets on a platform like:
• MyStandards
• GEFEG
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Published Market Practice for ISO 20022 Business process
8 Source: www.smpg.info
Your challenge “provide business
process specification of
your own service”
Your starting point use existing business
process models of
global/local market
practice as baseline
Your approach Reduce and/or extend
business process of
baseline
Worked example i.) reduce baseline:
“Investment funds order
flow – your solution does
not implement status
messages”
Worked example ii.) extend baseline:
“investment funds order
flow – your solution uses
funds hub to reach out to
TAs with low order
volumes”
Slide #3
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My own ISO 20022 business process:
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Slide #3
“Investment funds order flow
Your solution does not implement status messages”
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My own ISO 20022 business process:
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Slide #4
“Investment funds order flow - Your solution does not implement status messages”
Direct
scenario
Indirect
scenario
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Sneak preview of current work at
ISO 20022 Technical Support Group (TSG)
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- Business processes of ISO 20022 standards modelled through BPMN
collaboration diagrams
- Formal codification of business rules
Slide #5
Under review
Pending
ISO20022 RMG
Approval
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Resources available on www.iso20022.org
• ISO 20022 business model: http://www.iso20022.org/business_model.page
– standardized business concepts across all ISO 20022 message definitions (alignment
across business areas)
– clear definitions of industry business concepts and their relationships (not just for
external communication, also for internal enterprise communication)
– a foundation for communication between industry players (not just for messaging, also
for databases and regulatory reporting)
– easy mapping with other standards (not just external standards, also internal proprietary
formats)
• ISO 20022 business model definitions:
http://www.iso20022.org/documents/Business_Model/BusinessModelDefinitions.zip
• Repository search:
http://www.iso20022.org/standardsrepository/public/dictionaryModel/repositorySearch.xhtml
• E-repository: http://www.iso20022.org/e_dictionary.page
– http://www.iso20022.org/documents/eRepositories/Metamodel/20140404_ISO20022_2013_eRepository.zip
Metamodel: http://www.iso20022.org/documents/eRepositories/Metamodel/ISO20022_2013_ecore_metamodel.zip
– Subscribe to the ISO 20022 e-Repository notification service:
http://www.iso20022.org/e_dictionary.page
SWIFT Operations Forum 2010, La Hulpe 12
Slide #6
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13
Thank You