Minutes of the Standards Advisory Panel – June 2022


Date of meeting: 14 June 2022

Item 1: Welcome and introductions

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

The Chair walked through actions from the last meeting. Member biographies had been shared and circulated. The further two action points (Pay.UK and Band of England providing a refreshed view on work items, and members self-nomination for priority workstreams) were anticipated to be closed in the meeting as part of the agenda items.

Fiona Hamilton introduced herself as the Standards Director from the Open Banking Implementation Entity. The Chair briefly described the aims and direction of the Standards Advisory Panel to set the scene for the following agenda items.

Item 2: Update on the work emerging from the Standards Strategy Group – update and discussion

UK Finance presented on the work they have been doing towards setting up a Standards Engagement Forum (SEF). Using the work they have completed with Pay.UK on Fraud Standards as a pilot, they posit that the vision for the SEF would be the same in terms of how they collaborate across standard setting bodies, not to replace or duplicate work with any current bodies. The SEF is not envisaged to be a decision-making forum nor will it be responsible for delivery, but more centred on collaboration. It was raised by members that if both SAP and SEF were to co-exist, they would need to be distinct in their remit from one another. UK Finance will draft a light Terms of Reference with the Bank, Pay.UK and the Open Banking Implementation Entity. Users normally have to go to individual bodies to influence them, the SEF can be used to coordinate information sharing and influence. UK Finance reiterated that the SEF was a priority that their Board (who themselves will establish a Chair for the new SEF) had identified and hence had established a relevant budget for the setting up of the SEF and would look to provide the secretariat function. However, if substantial work was required that needed extra funding, this would be treated on a business case basis. The Chair underlined that UK Finance needed to be very clear what effective outcomes looked like for SEF and the roles of SEF in relation to SAP, and that no duplication was taking place. Action: UK Finance invited to return to SAP in September with an update, in particular to cover how the SEF remit would be distinct from and complement SAP.

Item 3: Joint work between Pay.UK and the Bank of England in 2022 – update and discussion

The Bank and Pay.UK updated SAP with regards to the prioritisation of future items to be brought to SAP. At the previous SAP meeting, an approach for joint workstreams to be led by SAP members was proposed. Following a discussion at the last meeting and contributions in the previous weeks, a revised prioritisation list was proposed and endorsed by SAP. For two workstreams, a SAP-member led approach was agreed: a) Developing a UK framework for payment APIs and b) considering a way forward on an Enhanced Remittance data standard. The Bank and Pay.UK will meet with the workstream leaders individually; the leads will not be responsible for providing the resource for each workstream, but rather to provide strategic leadership, expertise and identify appropriate resources using their network from across the industry. Action: Pay.UK and the Bank to set out and agree the expectations with workstream leaders in writing.

For the remaining workstreams, the Bank noted that whilst CPMI is of a high priority, decisions were being taken on a short time scale, and whilst they would be still be brought to SAP this would be done on an ad hoc basis. The Bank and Pay.UK also noted that, following feedback, they would take the work on the role of a standards setting body offline for bilateral consideration. For the remaining workstreams, SAP endorsed the approach of removing the specific deliverables from the joint list as the work is already underway. However, SAP strongly emphasised the importance of the Enhanced Fraud Data in particular and that it is a priority for industry. It was noted that periodic updates would keep SAP current with the work on Fraud. Action: Standing item on Enhanced Fraud to be added to SAP Agenda with supporting material included in the Appendix to the SAP slides. Where appropriate highlights to be verbally articulated to SAP.

Item 4: Industry Readiness towards ISO 20022 implementations – for discussion

Having had a number of conversations with Direct Participants of CHAPS, the Bank wanted SAP to consider how the SAP members felt about the broader UK community’s awareness of what ISO 20022 changes meant for them, not only from the requirements on them and their implementation approaches to the new data available, but also how they could benefit and how they would need to engage with the subject. The Bank posed the question of whether SAP should be considering something over and above the individual transition communications campaigns. SAP members agreed that in some cases knowledge of changes to affected persons was low, and that these changes needed to be given out in open conversations not just in conferences or from stages. Indirect participants and Corporates were dependent on the product choices of banks as their providers. The Chair put forward the need to be clear on opportunities to raise awareness from and educate end users, including corporates, and that working closely with end-user representatives, such as the Association of Corporate Treasurers would be crucial. Action: Industry readiness to be brought back to SAP in September.

Item 5: Any other business

Close of meeting.


NB Hybrid meeting by MS Teams videoconference and on location in Threadneedle Street, London, EC2R 8AH


Karen Braithwaite, Chair (Barclays)
Robert White (Santander)
James Barclay (JP Morgan)
Domenico Scaffidi (Volante)
Ralf Ohlhausenv (PPRO)
James Whittle (Pay.UK)
James Southgate (Bank of England)
Mike Walters (Form3)
Margaret Walsh (Oracle)
Toby Young (Ebury)


Ian Ellis (Payment Systems Regulator)

Other attendees

Bank of England & Pay.UK Secretariat
Bank of England & Pay.UK Presenters
Austin Elwood (UK Finance)
Jana Mackintosh (UK Finance)
Fiona Hamilton (OBIE)


Oli Bogaerts (FCA)
Jo Oxley (Government Banking Service)
Caroline Stockman (ACT)


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