The eFinancial Services Technical Committee (eFSTC) tracks and facilitates major projects in the financial services industry, in particular the ISO 20022 standards for financial services messaging. ISO 20022 will help enable straight through processing for securities settlement, thus improving processing efficiency while reducing errors.
eFSTC has the following main composition:
Mr Amod Dixit
Chief Executive Officer
Zensung Pte. Ltd.
The TC comprises the following Working Groups (WGs):
i. ISO 20022 Payments Working Group
The TC represents Singapore as a ‘Participating’ or ‘P’ member of ISO/TC 68 on ‘Financial Services’.
* P-members participate actively in the work and have an obligation to vote on all questions submitted to vote within the technical committee.
|ISO 20022 Corporate-to-Bank Payment Initiation and Payment Status|
List of banks and their bank channels (e.g. SWIFT, Internet Banking [IB], Host to Host [H2H])that supports SS 611:
By Q3 2016
|BAML||TBC||SWIFT, IB, H2H|
|Crédit Agricole CIB||By Q1 2017||SWIFT|
|HSBC||Yes||SWIFT, IB, H2H|
|J.P. Morgan||Yes||SWIFT, IB, H2H|
|OCBC||Yes||SWIFT, IB, H2H|
|Standard Chartered||Yes||SWIFT, IB, H2H|
|CIMB||By Q4 2017||IB|
Note that DBS (Singapore) has been certified by SWIFT to support ISO 20022 (pain.001 and pain.002).