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Transforming uncertainty into opportunity: Coexistence of ISO 15022 and 20022 messaging standards

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  • Retzer, Daniel E.

Abstract

New business opportunities are born from uncertainty. Uncertainty in business may be attributed to market disruption, social or geopolitical unrest, or even groundbreaking technological shifts. It may also be a by-product of a changing competitive landscape, where firms merge and divest, expand and collapse, or re-invent themselves. But people run businesses, and people are naturally predisposed to avoid uncertainty. We seek resolution and direction — a plan or path that demonstrates success or fulfilment. Uncertainty challenges the supposition that success is assured, and this is what makes the coexistence of ISO 15022 and ISO 20022 messaging standards difficult for our industry. But it is uncertainty that favours the entrepreneur and the agile innovator, because uncertainty includes endless paths and possibilities that translate into opportunity and potential for those firms that leverage disruption in order to innovate.

Suggested Citation

  • Retzer, Daniel E., 2013. "Transforming uncertainty into opportunity: Coexistence of ISO 15022 and 20022 messaging standards," Journal of Securities Operations & Custody, Henry Stewart Publications, vol. 5(3), pages 232-236, January.
    • Handle: RePEc:aza:jsoc00:y:2013:v:5:i:3:p:232-236
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    More about this item

    Keywords

    uncertainty; coexistence; technology adoption; ISO 15022; ISO 20022; disruption; innovation;
    All these keywords.

    JEL classification:

    • G2 - Financial Economics - - Financial Institutions and Services
    • E5 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit
    • K22 - Law and Economics - - Regulation and Business Law - - - Business and Securities Law

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