Community

Wow Stephan what a detailed and informative responce!

Thank you so much with for this and i am sure Nick would welcome a conversatation with you

Great comment Elton

I think they look a very likely entrant too

Thanks for the comment Hal and your spot on

Thanks for your comment Gerhard

I agree there are possible system solutions but feel that they need governments to establish a cyber crime initiative to create new laws that force implementation. The police are fighting a losing battle at the moment and need more support.

I am not sure how much worse things have to get before this crime is dealt with 

Thank you for your comment Marcel

Speed is important but accuracy and completeness must be included or speed becomes risk.

I agree the real test is the liquidity within the market. In the past this has remained with the Stock Exchanges but we are all now in a new ball game. The Chi -X results indicates willingness for liquidity to move and flow away from the exchanges. Only time will tell if any MTF or Exchange can retain their liquidity when all are running live

I suspect we will see a kind of boom and bust with some surviving while others merge of get bought

Thanks for this explanation

I agree with what you’re saying and i understand the advantage of ISO20022 and accept that there are cost savings in developments and how simple messages can be created

My demand for a business case for a bank is purely after a cost benefit analysis that also describes how much more business i can do at a cheaper price and how more competitive my business will become and how i can service my customers better.

As you will know the weakest case for more budget is cost saving and efficiency. In these times an if it not wrong why fix it will persist. 

There maybe some but so far the general feedback is that ISO20022 will be a very very slow burner. The banks have other priorities now and the business case is too thin to warrant the cost.

It looks like from the feedback the consultants are pushing but the users are more skeptical.

No one disagrees with the overall value but there is no consensus for implementation time frames

So no revolution with ISO20022 but very slow evolution

Hi Sid

There maybe some but so far the general feedback is that ISO20022 will be a very very slow burner. The banks have other priorities now and the bussiness case is too thin to warrant the cost.

It looks like from the feedback the consultants are pushing but the users are more sceptical.

No one disagrees with the overall value but there is no concenus for implementation time frames

So no revelution with ISO20022 but very slow evelution

Thanks for your comment

OK, you have identified some operational efficiences that could be of interest. My first question as a budget holder would be,what cost? Second how much more business can I do and third what is the saving?

Can you give some insight on the cost benefit analysis?

Perhaps you could also say if you think this is a ISO15022 replacement or additional message. If it's a replacement, whats the cost?

I am always wary when network suppliers and consultants/vendors tell me of the value and straight away tell me its modern and future proof and then its going to cost huge amounts of money and no immediate payback.

Thanks for this comment and I think you have answered the problem.

There is no business case!

How is ISO20022 going to be implemented without a business case?

I understand the values but without a business case will it just be another case of standards committees spending huge ammounts of time and effort and no doubt money, producing a solution that no one understands or wants?

Just because there is a solution this does not mean implementation unless someone can produce a compelling business case?

So is anyone out there with a compelling business case for the industry take up of ISO20022?