Bank of Russia to launch ISO 20022 Educational Programme

Pursuant to the National Payment System (NPS) Strategy the implementation of ISO 20022 Financial Services — Universal financial industry message scheme is a priority task of the Bank of Russia. The standard is used to build automated ‘seamless’ business processes in different spheres of economy. The transition to this standard will allow Russian market participants to be a part of new solutions realised on ISO 20022 basis, as well as to reduce the costs of all the parties concerned through the use of unified model of payment message exchange when performing national and international operations.

Within the preparation work for banks and their clients to adopt ISO 20022 the Bank of Russia has worked out a large-scale long-term Educational Programme which deals with both common issues of the standard development history, information on its contents, NPS implementation principles destined to understand the aims of the standard realisation and special issues aimed at users’ education.

The education will be supported by Bank of Russia representatives. Trainees will include heads and specialists of operational services, treasuries, banks’ IT-structures, commercial enterprises and governmental organisations.

The first seminar ‘Introduction to ISO 20022 financial (payment) messages in the national payment system’ will be held by the Bank of Russia on 27 September 2016. In 2017 H2, the programme will be completed by specialised courses.

Detailed information on the events, schedule and seminar programme is posted on the Bank of Russia website in the section National Payment System. Draft ISO 20022 Implementation.