ISO/TC 68 is a technical committee formed within the International Organization for Standardization in Geneva, Switzerland, responsible for developing and maintaining international standards covering banking, securities and other financial services.
The committee is organized into three subcommittees: SC2 (Information Security), SC8 (Reference Data) and SC9 (Information Exchange).
Through its subcommittees, advisory groups and working groups, TC 68 aims to:
- Identify the development of new standards to support changing business needs, innovation and regulatory requirements
- Promote the adoption of existing international standards
- Manage the coexistence of ISO, other standards and proprietary approaches
- Identify and secure the participation of industry stakeholders.
Which standards does TC 68 produce?
Many standards widely used in the banking world fall within this committee's scope. Examples include the ISO 20022 messaging standard, IBAN (ISO 13616), BIC (ISO 9362) and ISO 8583, used in card transactions.
These standards allow the systems of different countries and institutions to talk to each other. For software teams, knowing the standard speeds up integration and testing.
Standard documents can be obtained from the website of ISO or the national standards body; most of them are paid.
