SWIFT ISO 20022 Business Process Domains

[shaun-forgie]

Has anyone written a design specification around how ISO 20022 messaging sequences would be implemented for given areas within the ISO business process landscape?

[eduardadelavle]

We’re not currently writing this specification, but in the future, we might look into it or potentially introduce it through a market partner.

[shaun-forgie]

ISO 20022 is a very large domain space. The areas of immediate interest are payments and accounts. The business processes and message exchange patterns in each area would need to be specified as an implementation profile. Domestic and international flows could then be defined for a given regional SWIFT message hub environment.

[fredcamaral]

shaun -- this was kind of out of our scope at this moment, but we've seen this discussion regarding iso standardization for interoperability gaining forces, especially with the whole discussion around stablecoins. any thoughts here?

[shaun-forgie]

ISO 20022 is going to be used to mediate payments across most payment networks in the future. Many distributed ledger networks are already supporting ISO 20022 messaging to trigger payment transactions on chain. So ISO 20022 is relevant and will become increasingly important.