Minutes of the UBL Payments and Finance Subcommittee 06 September 2017 14:30UTC AGENDA: 1. Roll call - Kenneth Bengtsson - Todd Albers - Erlend Klakegg Bergheim - G. Ken Holman (secretary) 2. Outreach and liaisons with relevant workgroups - nothing for the minutes 3. Deliverables to the UBL TC and to UBL 2.3: a) Tradable invoice document / Bill of exchange - a tradeable instrument that can trade hands, but began life as an invoice and becomes a "bill of exchange" - Kenneth has been working more on this - is this a living document or a snapshot document? - standard information all found in the library - FactorParty is a new party involved in the process - list of previous installments (payments) - Ken brought up the concept of a semaphore (in programming) - two ways to work with a semaphore: - wait and set - abend if not set - once set it is "owned" by who set it - in real-time systems this allowed different software processes to "own" hardware components - is there a way to engage a semaphore by the "owner" of the latest issue of a bill of exchange b) Remittance Advice - after informal discussions Kenneth added a new tab to the Payfin working spreadsheet:
https://docs.google.com/spreadsheets/d/10pJVBV7Nvlgg2gPhQa90WOU4744Hvvyni-E-EOfuyFI/view c) Identification of other Payfin work products - no others at this time (lots of time to think of new ones) 4. Meeting schedule - next meeting 20 September 2017 5. Any other business - the US Federal Reserve system has published today their update for their strategies for improving the US payments system
https://fedpaymentsimprovement.org/wp-content/uploads/next-step-payments-journey.pdf Page 12: "Support industry efforts to develop and promote adoption of standards that enable end-to-end electronic processing of business invoices, payments and remittance information." -- Contact info, blog, articles, etc.
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