Swift’s greater standards role
Swift’s role in the standards process is shifting away from definition and development and more towards implementation and involvement in capturing market practices.
Speaking at Sibos for the first time since she took over as Swift’s head of standards, Juliette Kennel told the opening session of the Standards Forum that the focus of the event this week would be on three key strands in this development: education, particularly on practical aspects and implementation; how changes in the banking and financial services landscape are affecting the use of standards; and the scope of standards beyond simple messaging.
On the educational front, there are a number of ‘Meet the Implementer’ sessions on the Standards Forum stand during the week, including a session with the DTCC team implementing ISO 20022 corporate actions standards, as well as educational events that are intended to be fun and informative, such as a ‘cookery class’ that was held yesterday.
In terms of the scope of standards, Kennel said one area that was of central interest was how standards could contribute to innovation. “For those of us involved in standards, it is no surprise that they are linked to innovation in a number of ways,” she said.
One of the innovations that will be previewed during the week is MyStandards, a web-based collaboration tool for the management of standards and market practices that has been in development with a number of pilot customers and will be available generally next year.
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