Why Standards Matter

Renewed focus on the creation of an international business entity identifier (IBEI) has put the International Organization for Standardization (ISO) debate back in the spotlight. Market participants have worked on creating an IBEI for a decade and the disappointment was huge when the proposed identifier was stalled by the ISO last year. In recent months, there has been significant interest in finding alternative solutions to the problem, and Swift is currently reviewing the business case for IBE