eFinancial Services Technical Committee (eFSTC)

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.

TC composition and structure

eFSTC has the following main composition:

TC Chairman

Mr Amod Dixit
Chief Executive Officer
Zensung Pte. Ltd.

The TC comprises the following Working Groups (WGs):

i. ISO 20022 Payments Working Group

International Standards Participation

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.

Singapore Standards Under eFSTC

Singapore Standard
SS 618 : 201
26

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:

OrganisationSystem Ready
By Q3 2016
 
Supported
Channel
BAMLTBCSWIFT, IB, H2H
Crédit Agricole CIBBy Q1 2017SWIFT
HSBCYesSWIFT, IB, H2H
J.P. MorganYesSWIFT, IB, H2H
OCBCYesSWIFT, IB, H2H
Standard CharteredYesSWIFT, IB, H2H
UOBTBCTBC
CIMBBy Q4 2017IB








Note that DBS (Singapore) has been certified by SWIFT to support ISO 20022 (pain.001 and pain.002).

 Yes
Support Standard
Support Standard
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