Support for ISO 20022 payment messages

IBM Banking Process and Service Models (BPS) 8.7 support the latest ISO 20022 payment message specification.

Under the ISO 20022 Universal Financial Industry Message Scheme (, ISO publishes a catalog of message definitions for the financial industry covering the following business domains:
  • Payments
  • Securities
  • Trade services
  • Cards
  • Foreign exchange
BPS assists financial institutions in achieving industry-standard solutions, and earlier releases of BPS supported a number of ISO 20022 messages in the business domains for payments and securities. For the 8.7 release of BPS, updated support has been provided for the most recent subset of messages within the ISO 20022 Universal Financial Industry Message Scheme that relate to the Payments business domain.

Also, in the BPS v8.7 for m1 model, ISO 20022 payments messages have been re-created as templates to describe how each message element is supported in the Business Object Model (BOM) and Financial Service Data Model (FSDM). The payments messages are fully mapped to BOM and FSDM.