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Homepage>ISO Standards>ISO 21586 Reference data for financial services — Specification for the description of banking products or services (BPoS)
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download between 0-24 hoursReleased: 2020
ISO 21586 Reference data for financial services — Specification for the description of banking products or services (BPoS)

ISO 21586

Reference data for financial services — Specification for the description of banking products or services (BPoS)

CURRENCY
LANGUAGE
English
Standard´s number:ISO 21586
Pages:51
Edition:1
Released:2020
Language:English
DESCRIPTION

ISO 21586


This document specifies how to describe the characteristics of banking products or services (BPoS) from a customer's perspective. Characteristics of a BPoS can be observed from different facets, called key elements, which are divided into three groups: required, optional or voluntary elements. This document elaborates on the purpose, content and description approach for the required and optional key elements. Six levels of conformity are described in this document which are intended to allow a customer to assess the coverage of key elements in a BPoS. The logical and physical formats to express key elements are also defined. This document excludes requirements of a BPoS itself and specific value ranges of any key element are out of the scope. This document guides the provider of BPoS in describing their products or services with the intent to help customers understand or compare specific BPoS. It is not applicable to describing securities or insurance-related products or services. BPoS can be issued by banks and other institutions.
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