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BSI BS ISO 21586:2020

Reference data for financial services. Specification for the description of banking products or services (BPoS)
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BSI BS ISO 21586:2020

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

PUBLISH DATE 2020
PAGES 62
BSI BS ISO 21586:2020

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.

SDO BSI: British Standards Institution
Document Number ISO 21586
Publication Date Oct. 27, 2020
Language en - English
Page Count 62
Revision Level
Supercedes
Committee IST/12
Publish Date Document Id Type View
Oct. 27, 2020 BS ISO 21586:2020 Revision