ISITC TALKTIME: A Journey from ISO20022 to Digital Assets
TalkTime Podcast: A Journey from ISO20022 to Digital Assets
Andrew Muir is a renowned industry expert on ISO20022 having spent a number of years at Swift working on this standard. Andrew is able to provide a detailed understanding of ISO20022 and use his knowledge and expertise to articulate its considerable value in transforming complicated back-office systems in both payments and securities.
He describes how ISO20022 implementation in firms on both buy-side investing and sell-side trading, can make systems become cost effective and operations easier and more streamlined. The discussion includes a clear cost benefit description of ISO20022, not only in the payments industry, but more widely in capital markets and related financial services.
During this Podcast Andrew discusses with Gary Wright, Director of ISITC Europe, the history of messaging standards. In particular the creation of the ISO15022 messaging standard and its evolution to ISO20022.
This is a unique opportunity to hear two people that worked on the creation of the financial markets messaging standards, which have underpinned straight through processing and systems architecture for over 40 years, forming the bedrock of operations, through to the present.
The Podcast will provide listeners whether from a business and/or technology background with a chance to simply understand the importance of ISO22022, to all types of firms. And the broad context of changes in the financial markets today and in the future.
The conversation is far reaching and will extend the listeners knowledge and understanding, from the formation of systems and market operations historically, towards the future.
This interesting discussion between two industry professionals carries the listener on a journey from 2004 to today’s market challenges. Finishing with a glimpse of the future, as digital assets, cryptocurrencies, and tokenisation become drivers of change. Touching on the prospect of new financial market reconstruction, the evolution of messaging standards and ISO20022, leading to a decentralized marketplace.
Viewing time: mins
Andrew Muir is a financial transaction automation enthusiast. In 1991 he helped to introduce electronic messaging to the global community of fund managers, broker/dealers and custodians who were at that point starting to drown in paper trade confirmations, and from there he has worked on similar initiatives in securities settlements, retail investment fund transactions, insurance, payments and cash/liquidity management. From 2012 until 2021 he was a member of SWIFT’s Standards management team, most recently as Head of Community Engagement for the ISO 20022/CBPR+ programme. Although he was not its original author, Andrew has some affinity with the mantra “STP is a journey, not a destination”, in which continuous improvement is not only possible but necessary, and always interesting!
Great session folks. I agree that its important to look back to look forward in the data and standards journey and the back story, opportunities and enterprise challenges are clear from this discussion for ISO20022. I wonder with reference to the Ivy analogy whether there are leaner channels for standards adoption to keep up with the digitization of product to ensure traceability especially in UTI, UPI and LEI attributes. Look forward to hearing and discussing more in these forums.