Rich data from ISO 20022 could lay ground for new services

Standardised financial data, under the newish ISO 20022 message standard, could be combined with real-world information – such as on mobility, healthcare and infrastructure – to enable a large range of new sophisticated services. This was proposed by Bank of Tokyo-Mitsubishi’s transaction banking head Yoshio Hattori in a session of Sibos in Amsterdam.

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Yoshio Hattori leads the ISO 20022 migration at the Bank of Tokyo-Mitsubishi. At Sibos in Amsterdam, on 10 October, he was interviewed by SWIFT’s Stephen Lindsay.

A slide showed the idea of financial data being combined with the “economic activity data” from the world out side, resulting in a long list of new services that could be offered. Some examples:
– shared mobility services,
– infrastructure services like ID authentication and settlement,
– analysis of medical data such as hospitalisation risk, and
– sophisticated energy risk management, and energy price hedge products.

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