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ISO 20022
Universal financial industry message scheme

Development of new API Resources

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ISO 20022 to foster interoperability independently of the underlying technology

The ISO 20022 API Resource Development Process includes the following steps:

Organisations (‘submitting organisations’) wishing to develop a new ISO 20022 compliant resource must submit an API Resource Business Justification (API BJ).  The API BJ should include:

  • the purpose of the development,
  • the applicable business processes,
  • Involved business transactions (business areas)
  • A committed timeline for the development.
  • Verification of the API BJ content
    The ISO 20022 Registration Authority (RA) checks the API BJ for completeness and ensures it is not a duplicate of an existing BJ. The RA also verifies the proposed development cannot be achieved through amendments to existing API resources (i.e., the maintenance process). The RA then forwards the BJ to the responsible ISO 20022 registration bodies for comments.
  • Addressing comments
    If comments are received, the submitting organisation must address them, potentially through multiple, updated versions of the BJ until all justified and reasonable comments have been addressed.
  • Final approval of the BJ
    Final approval of the BJ is implicit if the responsible ISO 20022 registration bodies have no further justified and reasonable comments within 6 weeks following the last version of BJ.
  • Tool Provision
    Once the API Resource Business Justification (API BJ) is approved, the Registration Authority (RA) will provide the submitting organization with tools to access the latest ISO 20022 Repository . Detailed instructions on the required deliverables will also be provided (see step 3 below). These tools are free of charge.
     
  • Deliverables and Setup
    The RA provides the submitting organisation with a clear description of the required deliverables, the materials needed to set up the modelling environment, and a compliance checklist of rules to follow for developing ISO 20022 compliant API resources.
  • Resource Design
    The submitting organisation selects the relevant ISO 20022 message elements from the ISO 20022 Repository to design the API resources. If the necessary elements are not available, new elements can be created following the ISO 20022 API modelling guidelines.
  • Development and Documentation
    The submitting organisation develops the ISO 20022 compliant API resources and part 1 of the Resource Definition Report (RDR Part 1) within the specified timeframe.  If a delay is expected, the submitting organisation promptly informs the RA with a new submission date.
  • Submission and Evaluation
    The submitting organisation submits the resources and the part 1 of the Resource Definition Report (RDR Part 1) to the RA. The RA will check their compatibility with the ISO 20022 modelling guidelines before sending them to the responsible registration bodies for evaluation.  If there are any issues, the RA will provide a quality report and work with the submitting organisation to correct them until a compliant submission is achieved.

Important: The APIs themselves are out of scope of this process.

  • Provisional Registration
    Once the submission is compliant and complete, the RA registers the API resource components, marking them as 'provisionally registered' in the Repository.
     
  • Evaluation Documentation 
    ​​​​​​​The RA prepares the evaluation documentation and sends it to the responsible ISO 20022 registration bodies. This documentation includes:
    A Resource Definition Report (RDR) describing the resources made of three parts:
  • Part 1: provided by the submitting organisation, describing the business transactions (state diagram, interaction diagram, etc.) for which the resources will be used.
  • Part 2: Detailed description of each resource's content and definition, generated by the RA.
  • Part 3: Description of the business model components used to create the API resource components, generated by the RA.
  • JSON Schemas: Equivalent of the RDR part 1 in a machine-readable format, ideally accompanied by a Microsoft Excel spreadsheet.
     
  • Introductory presentation
    The submitting organisation is expected to give an introductory presentation to the ISO 20022 registration bodies and may provide additional documentation to facilitate the evaluation.
     
  • Evaluation
    The responsible ISO 20022 registration bodies evaluate each submission. If corrections are needed, they will be returned to the submitting organisation. The submitting organisation can either justify its decision or make the necessary corrections and resubmit, potentially through multiple evaluation cycles.
     
  • Final approval
    ​​​​​​​The responsible ISO 20022 registration bodies verify that the submission aligns with the initial request and evaluate the candidate ISO 20022 compliant API resources from a business standpoint before they are officially accepted and published as ISO 20022 compliant resources. The responsible ISO 20022 registration bodies aim to complete the evaluation and approve the API resources within one calendar month from receipt of the submission.

Following the positive evaluation and approval, the RA publishes the ISO 20022 compliant API resources on www.iso20022.org as JSON Schemas together with the Resource Definition Reports.

At any time during the registration process and until the resources are approved by the responsible ISO 20022 registration bodies, the submitting organisation may decide to withdraw or suspend its submission by informing the RA and providing the reason for such decision.

Meeting Development

Development of new ISO 20022 API Resource Definition request

Any request for the development of new ISO 20022 API Resource Definition must be submitted to the ISO 20022 RA.

Please download and fill in the Business Justification as you will have to attach it to your request.

Business Model

ISO 20022 API Resource Definition Registration Process

Should you want to know more about the ISO 20022 registration process for API Resources, you can download the document hereafter which provides detailed information about the process.

API_Registration_Process

ISO 20022 API Resource Registration Process - Flow charts

Overview of the new Business Justification approval sub-process, API Resource development sub-process and Resource maintenance sub-process.

Working team

Maintenance of an existing ISO 20022 API Resource Definition request

ISO 20022 API Resource Maintenance Process to enhance or amend an existing ISO 20022 compliant API resource

 

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