2.20 Service Provider

When the term Service Provider is used generically, typically qualified by a service name (e.g., Insurance Service Provider), it refers to an organization that processes messages that support financial services provided to individual and commercial customers. A service provider may be either of the following:
  • A Financial Institution that has chosen to perform its own message processing in support of its services,
OR
  • A Third Party that performs message processing on behalf of a Financial Institution that has decided to outsource this function.

Last edited Mar 11, 2016 at 1:23 AM by natewaite, version 1