The International Organization for Standardization (ISO) announced the launch of fintech Technical Advisory Group (TAG), a new global committee, which is aimed at driving technology and data standards in the financial services sector.
TAG group is establishing a proactive dialogue with financial institutions, their regulators, supply chain, and fintech companies. The group will play the role of an advisory sounding board aims to work with fintech communities, including public sector bodies, and ISO in order to educate and promote the adoption of consistent standards.
The members of the committee are selected based on their expertise in the fintech field, innovations as well as their extensive knowledge of global regulatory standards. The fintech TAG leadership team comprise of Stephan Wolf, Co-Chair, CEO of the Global Legal Entity Identifier Foundation; Nick Cliff, Co-Chair Head of emerging technology, APCA and Di Giammarino, Secretary, CEO JWG-IT Group.
“ISO/TC 68 is very pleased to have strong, global leadership now confirmed for our new Technical Advisory Group. The TAG will benefit from participation and expertise from ISO/TC 68 members and liaisons, as well as from new stakeholders from the FinTech community from which the TAG currently is recruiting representation,” Karla McKenna, Chair of ISO/TC 68, said.
The fintech committee’s objectives include effectively addressing common issues collectively and consistently and encouraging strong and open communication and the sharing of information concerning financial services standards.
ISO stated that the priorities and further plans of fintech TAG will be discussed during the upcoming TC68 Plenary meeting which will take place in May in Rio.
“At this important juncture where public and private sectors realize the importance of common standards for business as well as regulation, I’m delighted to be able to support this global initiative of top experts,” Di Giammarino commented.
