Lawrence Eicher Leadership Award

TC68 Receives Lawrence Eicher Leadership Award

The achievement of a team of experts who developed the ISO 20022 International Standard for Universal Financial Industry Message Scheme and ISO 17442 International Standard for Legal Entity Identifier has been recognized through an award for superior performance, presented on 18 September, 2013 at the 36^th ISO General Assembly, held in St. Petersburg, Russia.

For 2013, the Lawrence D. Eicher (LDE) Leadership Award for excellence in creative and innovative standards development goes to ISO technical committee, ISO TC 68, Financial Services.

Accepting the award on behalf of the technical committee, Cindy Fuller, Secretariat (ANSI/USA/X9) and Karla McKenna Chair (CITI).

Revised in 2013, ISO 20022 has unified the financial services industry under one standard that defines business processes, definitions and transaction messaging.  This standard is unique in financial services because it unites the discipline of documenting business processes and presenting these processes for global adoption within an open repository.  As adoption of ISO 20022 grows, it is expected that the business models contained in the ISO 20022 repository will extend to map the business processes of the global financial services industry.

TC68 has become increasing focused on the development of standards to meet a range of customer and other stakeholder requirements.  Although common with other TCs, working with regulators as stakeholders and on standards to support regulation is relatively new for TC68.

TC68 has brought the relevant stakeholders together and looking across industry lines in the scope and coverage of the LEI standard, all the while developing and delivering the standard in an expedited process that has demonstrated the responsiveness and integrity of the ISO consensus building process.

Today, experts from the national standards bodies of 30 ISO member countries participate within TC68 with another 47 countries as observers.