BusinessRoles and Participants A BusinessRole represents an entity (or a class of entities) of the real world, physical or legal, a person, a group of persons, a corporation. Examples of BusinessRoles: “Financial Institution”, “Automated Clearing House”, “Central Securities Depository”. A Participant is a functional role performed by a BusinessRole in a particular BusinessProcess or BusinessTransaction. Examples of Participants: the “user” of a system, “debtor”, “creditor”, “investor”. The relationship between BusinessRoles and Participants is many-to-many. One BusinessRole can be involved as different Participants at different moments in or at the same time. Examples of BusinessRoles: "user", "debtor”, "creditor", "investor". Different BusinessRoles can be involved as the same Participant. In the context of Cash Management the high-level BusinessRoles and typical Participants can be represented as follows: Participants and BusinessRoles Definitions Participants Description Definition System Member that instructs the executing/servicing party to process and maintain a standing order. System / Transaction Administrator Party that processes, monitors and reports on standing orders received from the member. Business Description Definition Corporate Most common form of business organisation, and one is chartered by a state and given many legal rights as an entity separate from its owners, characterised by the limited liability of its owners, the issuance of shares of easily transferable stock, and its existence as a going concern. Cash Provider Financial institution in money is kept for savings, commercial purposes, invested, supplied for loans, or exchanged. A cash provider is licensed by a government and its primary activity is to process payments and lend money. A cash provider does most or all of the following: receives demand deposits and time deposits, honors instruments on them, and pays interest on them; discounts notes, makes loans, and invests in securities; collects checks, drafts, and notes; certifies depositor's checks; and issues drafts and cashier's checks. Payment Bank National central bank or a private bank used to settle the cash leg of financial instruments: it provides the cash account to support the settlement of the transactions forex, securities) of another financial institution in central bank money.
Revision Record Revision Date Author Description Sections affected 0.1 10 November 2017 SWIFT Draft version for SEG review All Disclaimer: Although the Registration Authority has used all reasonable efforts to ensure accuracy of the contents of the iso20022.org website and the information published thereon, the Registration Authority assumes no liability whatsoever for any inadvertent errors or omissions that may appear thereon. Moreover, the information is provided on an "as is" basis. The Registration Authority disclaims all warranties and conditions, either express or implied, including but not limited to implied warranties of merchantability, title, non-infringement and fitness for a particular purpose. The Registration Authority shall not be liable for any direct, indirect, special or consequential damages arising out of the use of the information published on the iso20022.org website, even if the Registration Authority has been advised of the possibility of such damages. Intellectual Property Rights: The candidate ISO 20022 MessageDefinitions described in this document were contributed by SWIFT. The ISO 20022 IPR policy is available at www.ISO20022.org > About ISO 20022 > Intellectual Property Rights.