The scope of the Payments SEG includes the messages supporting transactions and business processes related to the following non exhaustive list of financial instruments:
The business areas include
Payment initiation: communications between the ordering customer and its bank, etc.
Clearing and settlement: interbank transfers via correspondent banking or ACHs, high value payments, low value bulk payments, RTGS, etc.
Cash management between of the various actors: account opening, standing orders, transaction and account information, advices and statements from account servicing institutions to account owners along the processing chain, including reporting to the ordering customer and beneficiary customer, reconciliation, exceptions and investigations handling.
The actors involved include
Private and corporate customers
Clearing houses and RTGS systems
SEG leadership team
Convenor: Mr. Peter Hoogervorst
Vice convenors: Ms. Charlie Clarke/Mr. Neil Buchan
Secretary: Ms. Aurelie Steeno