The way to ISO readiness for software partners

ISO 20022 readiness in three steps

As a software partner, you can assess your software products independently. With the software products, you can reach three levels of ISO 20022 readiness.

  • Level 1: Traditional business

    Accounts payable management Accounts receivable management Cash and liquidity management
    Accounts payable managementPayment order (pain.001) Accounts receivable management

    Debit order (pain.008)

    and/or

    ISR credit notification

    Cash and liquidity management

    Account statement

    Paper or PDF

    Accounts payable management

    Interactive digital channel

    (e-finance)

    Accounts receivable management

    Interactive digital channel

    (e-finance)

    Cash and liquidity management

    Interactive digital channel

    (e-finance)

    Level 2: Classic business with optimizations

    Accounts payable management Accounts receivable management Cash and liquidity management
    Accounts payable management

    Manage order notification

    (Differing notification management with the formats NOA, SIA, CND, CWD)

    Accounts receivable management

    -

    Cash and liquidity management

    -

    Accounts payable managementProcessing status (pain.002) Accounts receivable management

    CH-DD credit notification

    (camt.054 DD)

    and/or

    processing status (pain.002)

    Cash and liquidity managementProcess account statement electronically
    (camt.053), (camt.054 ISR/OSR) (camt.054 DD), camt.054 IS)
    Accounts payable management

    Direct digital channel

    (FDS, TBS, OLFT)

    Accounts receivable management

    Direct digital channel

    (FDS, TBS, OLFT)

    Cash and liquidity management

    Direct digital channel

    (FDS, TBS, OLFT)

    Level 3: Ready for digitization

    Accounts payable management Accounts receivable management Cash and liquidity management
    Accounts payable management

    Interfaces for digital archive (option)

    (ERP or payment software issues/offers document management system)

    Accounts receivable management

    Interfaces for digital archive (option)

    (ERP or payment software issues/offers document management system)  

    Cash and liquidity management

    Interfaces for digital archive (option)

    (ERP or payment software issues/offers document management system)  

    Accounts payable management

    Order cockpit offers process control (option)

    (ERP or payment software provides order status in overview)  

    Accounts receivable management

    Order cockpit provides process control (option)

    (ERP or payment software provides order status in overview)  

    Cash and liquidity management

    Order cockpit provides process control (option)

    (ERP or payment software provides order status in overview)

    Accounts payable management

    Order notification

    (camt.054)

    Accounts receivable management

    Credit notification (with image)

    (camt.054 IS)

    Cash and liquidity management

    Intraday account statement

    (camt.052)

  • The review and evaluation of ISO 20022 readiness are part of the implementation procedure for ISO 20022.

    The evaluation is carried out in three stages:

    1. Adapting the factsheet

    • Self-declaration by the software partner
    • Evaluation by PostFinance

    2. Verification using test platform

    • Testing of selected use cases from mid-March 2016
    • Review of test cases by PostFinance

    3. Publication of results

    The results of the classification will be published on the PostFinance website.

  • Your software product must meet certain criteria to achieve the individual ISO 20022 readiness levels.

    Level 1: Traditional business

    Topic Criteria Review
    TopicDebit order
    CriteriaDirect Debit (DD) order is delivered and correctly processed via pain.008
    ReviewVerification on the test platform
    TopicISR credit notification Criteria
    • Invoices with the QR code can be created (applies to accounts receivable software)
    • Notification of ISR credits can be processed
    Review

    Verification on the test platform

    TopicPayment order
    CriteriaEPO order is delivered and correctly processed via pain.001 (regardless of payment type)
    ReviewVerification on the test platform

    Level 2: Classic business with optimizations

    Topic Criteria Review
    TopicProcessing status
    CriteriaProcessing status from pain.002 is collected and processed
    ReviewSelf-declaration
    Topic

    Order notification

    Account notification

    Criteria
    • Order notification can be selected by customer via pain.001
    • Account notification can be selected by customer
    • Account notification is processed electronically
    Review

    Verification on the test platform/
    self-declaration

    TopicDirect digital channel
    CriteriaDigital channels such as FDS, TBS or OLFT are used
    ReviewVerification on the test platform

    Level 3: Ready for digitization

    Topic Criteria Review
    TopicInterfaces for digital archives
    CriteriaERP or payment software issues/offers document management system (DMS) or an interface (file storage, message queue) to a DMS
    ReviewSelf-declaration
    Topic

    Order cockpit offers process control

    Criteria
    • ERP or payment software shows the status of orders (pain.001, pain.008, B level) in an overview on the basis of pain.002
    • Status (e.g. ACCP, ACWC) and detailed information from pain.002 are shown in plain text
    Review

    Self-declaration

    TopicOrder notification
    Criteria
    • Order notification for accounts payable is being processed
    • Order notification for inpayment slip (with image) is being processed
    ReviewSelf-declaration

“ISO 20022 readiness” is a functional, procedural classification given to software products by PostFinance in association with software partners. It is explicitly not an official “ISO certificate”, and no ISO certification bodies are involved in the evaluation process. The ISO 20022 readiness evaluation is merely intended to offer guidance in connection with the preparation of software products for payment transactions in accordance with the new ISO 20022 formats and the specific Implementation Guidelines of the Swiss financial center.

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