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ISO 21586:2020
Reference data for financial services — Specification for the description of banking products or services (BPoS)
Translate name
STANDARD published on 28.9.2020
The information about the standard:
Designation standards: ISO 21586:2020
Publication date standards: 28.9.2020
SKU: NS-1006180
The number of pages: 51
Approximate weight : 153 g (0.34 lbs)
Country: International technical standard
Category: Technical standards ISO
The category - similar standards:
Annotation of standard text ISO 21586:2020 :
Description / Abstract: This document specifies how to describe the characteristics of banking products or services (BPoS) from a customers 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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