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ISO 20022
Universal financial industry message scheme

Business Model Maintenance

Message Maintenance Process: Step-by Step

Actual or potential users of the ISO 20022 Business Model submit their requests for changes to the Business Model based on the specific Business Model change request to the Registration Authority (RA) at iso20022ra@iso20022.org. Each Business Model change request must describe the scope of the change, the business concepts to be changed, the proposed name, definition, etc.

The RA checks each Business Model change request for completeness and conformance to the Business Model change request template. When the change request is valid (that is, conforming to the change request template), the RA returns a positive acknowledgement to the submitter and posts the change request in the Catalogue of change requests.

Change requests to the Business Model are evaluated by the RA, as well as the impact that the changes could have on existing ISO 20022 messages.

If the changes can be made without impacting the existing ISO 20022 messages, the RA updates the Business Model and prepares the documentation necessary for the submission of the updated model to the relevant SEG or the Cross-SEG Harmonisation team (CSH) if the changes related to 'common' business concepts that are used by several business domains.

If the changes require an update of existing ISO 20022 messages, the RA contacts the submitter with the request to prepare required message change requests as per the regular ISO 20022 maintenance process.

The SEG or the CSH reviews the updated Business Model and approves the proposed implementation of each Business Model update.

The submitter is invited to participate in the evaluation to give any further clarification regarding the proposed updates.

The result of the review is an agreement regarding which changes will be implemented. The RA updates the Business Model change request with the SEG or CSH decision for each of the proposed changes, informs the submitter and updates the status of the change request in the Catalogue of change requests.

The RA publishes the updates to the Business Model on the ISO 20022 website. This may include: