Minutes of the Standards Advisory Panel – May 2021


Item 1: Welcome and introductions

1. The Chair welcomed members and provided an overview of the agenda for the meeting.

2. The Chair walked through actions from the last meeting. The Pay.UK Community of Developers terms of reference had been circulated, and Pay.UK talked through the objective of this forum. Priority use cases and forward plan agenda for SAP to be covered in agenda Item 2.

Item 2: SAP Forward Plan Agenda – for discussion

3. The Panel discussed the forward plan agenda for the SAP and priority items for discussion at upcoming meetings. It was suggested a separate workshop should be scheduled for the Panel to discuss priority use cases, to cover how richer data could facilitate clear benefits (such as working with HMRC on the tax aspects) in specific end-to-end journeys. The Panel confirmed end-to-end scenarios should be considered (not just FI-to-FI) to ensure end user benefits are realised.

4. The Panel suggested Digital identification to be another important topic for the detailed discussion, specifically on bulk files and age of an account, as well as Liquidity Management.

Act: The Bank and Pay.UK to determine specific use case scenarios to discuss with the Panel at the next meeting building on Pay.UK’s use case example and the Bank’s Market Guidance development.

Ian Povey, Chair of the UK Finance PSSG and Austin Elwood of UK Finance joined the meeting.

Item 3: UK Finance Payments Standards Strategy Group (PSSG) – update and discussion

5. The Chair of the UK Finance Payments Standards Strategy Group (PSSG) provided an overview of the work underway by the PSSG and the conclusions from the Phase 1 report. The PSSG Chair noted the need for convergence of standards and specifications, harmonisation and consistency, listening to the customer, case for change, standards governance, and the importance of bringing use cases to life such as Fraud. He noted this will not necessarily become a “super body” as such, however, collaboration is critical to ensure coordination across all the schemes in the UK. The final (Phase 2) report is currently planned for distribution at the end June.

6. The PSSG Chair noted going forward the Panel and the PSSG should work together, discuss agendas, keep the conversations alive across the two groups as this work evolves. The Panel agreed a need to understand what the ‘end state’ will look like and address the problem of having too many disparate standards bodies.

Act: The Panel to discuss the outcomes from the final Phase 2 PSSG report at the next SAP meeting in July.

Ian Povey, Chair of the UK Finance PSSG and Austin Elwood of UK Finance left the meeting.

Item 4: API Standards – update and discussion

7. The Bank provided an update on the developments on the CPMI cross border payments roadmap and specifically the Bank’s involvement in two workstreams – a harmonised global messaging standard, and on APIs. The API workstream has discussed API key features, current pain points and priorities, and the Bank asked the Panel for its views on UK priorities. The Panel noted understanding the data offering presented is important, there is no common global identifier, and JSON versus xml. The Panel raised issues around processing times and latency in processing ISO 20022 messages carrying a lot of data, as well as SLAs and TPP calls. The Panel noted there needs to be synergies between SEPA, the CPMI cross border work, APIs in the Renewed RTGS service and the NPA blueprint, as well as understanding further how APIs will be used in a wide range of use cases. The Bank will discuss alignment on API Standards with the ECB, and provide an update to the SAP at a later meeting.

Item 5: Any other business

8. For discussion at the next SAP meeting, the Chair requested the Panel to think about their views on ISO 20022 industry readiness on a sector-wide level, along with any key considerations or challenges the Panel should be made aware of. The Panel noted the need to outline the broader benefits of ISO 20022 to assist in moving the industry forward and preparing them for the move.

Close of meeting.


[NB all by Zoom videoconference]


Karen Braithwaite, Chair (Barclays)

Robert White, Santander

Brendan Reilly, Silicon Valley Bank

James Barclay, JP Morgan

Domenico Scaffidi, Volante

Ralf Ohlhausen, PPRO

James Whittle, Pay.UK

James Southgate, Bank of England

Jo Oxley, Government Banking Service

Toby Young, Ebury



Other attendees:

Bank of England & Pay.UK Secretariat

Bank of England & Pay.UK Presenters

Ian Povey (Item 3), Chair of the PSSG, Natwest

Austin Elwood (Item 3), UK Finance


Oli Bogaerts, FCAAndrew Cregan, British Retail Consortium

Ian Ellis, Payment Systems Regulator


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