Скачать или смотреть Policy Updates - Data Standardisation with David Heron Head of Standards, Pay.UK

In this month's Policy Updates, Riccardo Tordera Ricchi, Head of Policy & Government Relations at The Payments Association, speaks with David Heron, Head of Standards at Pay.UK, about the importance of standards in data for payments.

David explains that data standardisation is not just about creating written standards that are filed away and forgotten. Instead, it is about enabling data transfer and ensuring that data is sent in a structured and formatted way that can be easily understood and used by the recipient. This is particularly important in payments, where unstructured data can cause chaos and confusion.

Pay.UK is the operator of various payment services, including Bacs, faster payments, and cheque clearing. The company is also building the new payments architecture (NPA), which will be the future retail UK payments infrastructure. As a mandated standards setter and rules setter for this infrastructure, Pay.UK is responsible for defining technical messaging standards for the data that is sent through the system. David shares that Pay.UK's role is to define the specific usage of data fields and ensure that data is sent in a clear and understandable format.

The goal is to enable people to use the data for their intended purposes, rather than struggling with formatting and understanding the data. David encourages members to think strategically about data standards and to consider what data their businesses and clients need in relation to ISO 20022. Pay.UK is keen to hear from those who would benefit from improved data quality and quantity, and the company is eager to work with stakeholders to drive this standard forward.

Overall, this conversation highlights the importance of data standards in payments and the need for continued collaboration and communication between industry players.

Blog: https://thepaymentsassociation.org/ar...