October 26, 2010

In an effort to make the ISO 20022 messaging standard more accessible and popular, SWIFT launched a new book at SIBOS today called ISO 20022 For Dummies with John Wiley & Sons and the International Organization for Standardization.

SWIFT is also challenging delegates to its Standards Forum at the show to come up with an "elevator pitch" better than this one from an eight-year-old boy named Guershom (who presumably did not write it himself):

The ISO 20022 standard provides the financial industry with a common platform for the development of messages in a standardized XML syntax, using a modelling methodology (based on UML) to capture in a syntax-independent way financial business areas, business transactions and associated message flows. It also uses a set of XML design rules to convert the messages described in UML into XML schemas.

Speaking at the Standards Forum at Sibos, Jamie Shay, Head of Standards, SWIFT, commented, "ISO 20022 creates profound benefits for the financial industry. We hope this publication will demystify ISO 20022 and encourage take up of the standard worldwide. The interest and enthusiasm shown by our customers and partners for this first-ever official ISO 20022 reference guide is extremely encouraging."

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