The strategic advantage for banks
MyStandards offers banks an efficient way to document their message formats across payment types and markets. Now your corporate customers can access and compare requirements easily, improving the onboarding experience and timescales.
Global financial standards have transformed payments and cash management, and significantly improved interoperability. Still, there remain many important variations in practice across markets and financial institutions – for example, ISO 20022 guidelines for host-to-host channels.
Easier onboarding for your customers with MyStandards
Keeping everyone informed and in sync with variations and changes to message formats and specifications is essential to successful implementations – but it can be expensive and difficult to manage.
MyStandards provides a collaborative, online solution to manage standards definitions and industry usage more efficiently and cost-effectively.
Key benefits for banks
MyStandards provides your bank with real strategic advantage and benefits:
- A centralised environment to manage, publish and share your bank’s message formats across channels, payment types and markets.
- Easy, online access for your corporate customers to locate and compare up-to-date usage guidelines and formats. MyStandards improves the customer onboarding experience and reduces customer service enquiries.
- Combined with the Readiness Portal, MyStandards reduces the cost and time required for onboarding corporate customers by up to 50%. You and your customer will benefit from:
- Easy, self-service testing of your bank-specific formats
- A single approach to onboarding for your customers across all channels
- A shared view of implementation readiness, reducing risks
- You always maintain full control of your banking format
MyStandards also features:
- Value-adding features such as impact analysis and comparison tools to help automate tasks and promote consistent, high quality documentation.
- An online repository of all current and future MT, MX and ISO 20022 standards.
Simply put, MyStandards makes it easier and more efficient for you and your customers to do business.
The MyStandards basic and Premium service levels
|Browse base standards||X||X|
|Browse public and shared usage guidelines||X||X|
|Generate basic documentation for base standards and usage guidelines||X||X|
|Create, maintain and publish your own usage guidelines||X|
|Compare usage guidelines||X|
|Manage impact of new standards releases||X|
|Generate spreadsheets and XML schemas for base standards and usage guidelines||X|
|Maintain your own dedicated homepage and have branded documentation||X|