INTL – Payment Session ID:

10491
Standardization Through
XML ISO20022
Prepared by:
Jacob van Diermen
Managing Consultant – Sales
Is It a Dream Or Is It Achievable? APRO Software Solutions, Inc.

Apr 25, 2018

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APRO Software Solutions, Inc.

• Founded in 1998

• Solutions for Oracle E-Business Suite and Oracle Financials Cloud

• Interface between Oracle and Your Banks

– Payments
– Bank connectivity
– Bank statement reconciliation and Lockbox processing
About me

• Dutch
• Started working at APRO in 2007
• 7 years as a format developer
• Last 3 years in sales related positions
• Involved in the development and implementation of over 500 different formats
Agenda

• What is ISO20022?
• Differences between banks

• Benefits
What is ISO20022?

• “ISO 20022 is an ISO standard for electronic data interchange between

financial institutions. It describes a metadata repository containing descriptions
of messages and business processes, and a maintenance process for the
repository content. ... ISO 20022 is widely used in financial services.”

• Standardization framework for

– Payments
– Securities
– Trade Services
– Cards
– FX
Which areas are covered related to payments?

• Account Management
• Payments Initiation
• Payments Clearing & Settlement
• Cash Management
• Authorities Communication
Payment Initiation

• Pain.001.001.03
• XML
• All banks adhere to the same standard
Cash Management

• CAMT.053
• CAMT.054
• Structured reporting
– Payment numbers
– Invoice numbers
– Other information
Differences in formats

• Per bank
• Per country
• Open to interpretation
• The standards are broad
– Gives room to the banks for customizations
Benefits

• Standardized process/format
• Easy to read
• Better reporting/structure
• XML is the future
jacob.vandiermen@aprosoftwaresolutions.com

Session ID:
10491

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