51–60 of 139 posts
>> I'd love to know what you think and importantly know about any improvements you'd like us to make! I think it's scary to do any finance related stuff using NPM dependencies. How large is your dependency tree?
extremely lightweight https://www.npmjs.com/package/iso20022.js?activeTab=dependen...
Visualized: https://npmgraph.js.org/?q=iso20022.js
What is an API/service we can use this encoder/serializer with? This seems like a part of the puzzle.
There isn't something we are currently offering yet, althoug I wrote about how this works in the quickstart guide: https://docs.iso20022js.com/quickstart#step-4-send-the-payme...
Could you help me understand who the target devs are for this library? I doubt it's someone like me, who would try to use it as a replacement for stripe before realizing all of the stuff I have to do outside of that and giving up on it. But maybe this is more for people who are doing heavy financial management anyway? Or am I just completely thinking about what this is wrongly?
>> I'd love to know what you think and importantly know about any improvements you'd like us to make! I think it's scary to do any finance related stuff using NPM dependencies. How large is your dependency tree?
That’s what fintech is, one large dependency tree
Earlier quoted context omitted.
Relevant subthread: https://news.ycombinator.com/item?id=36805571
thanks for sharing - this is really helpful context. ISO20022 is the XML standard to send payment instructions, and this library conveniently exposes it's models in Typescript format. It seems like understanding what ISO20022 is is super important, so I'll spend some effort educating people on what this is
The difficult thing about payments is not necessarily formatting payment instructions to ISO20022, but rather setting up the underlying infrastructure like: - Shelving a Windows box in some authorized datacenter. - Going through a years long process of getting certified to send payment instructions to the scheme (e.g. SWIFT network). - Receiving a couple of USB sticks that contain certificates and signing keys. - Con…
There are tools that can turn the schema files into POJO/dataclasses/structs/etc in your language of choice, sometimes with proper data validation. Not sure about Typescript, but Java/Python/Golang definitely have those.
It may very well be lost knowledge in certain ecosystems, but generating a valid XML based on the given schema is generally a solved problem. Not sure if the projects adds anything beyond that.
This looks pretty interesting, but my only experience with payments are black-box payment processors that expose an API, and services like Stripe that handle all of the institutional interconnection. Could you help me understand who the target devs are for this library? I doubt it's someone like me, who would try to use it as a replacement for stripe before realizing all of the stuff I have to do outside of that and…
You're right. Accepting credit card payments over the internet is usually done handled by black-box third party payment processors.
Bank payments, like ACH, SWIFT, and others are usually built in-house by companies that move money at scale, like payroll providers, insurance companies, and other old school institutions.
As companies that do heavy financial management refresh their architecture and move to modern web servers and the like, they'll likely need to rebuild it from scratch. This is what iso20022.js plays a small part in - if they're building on Node this is a convenient library for them to use.
XML Schema Definitions for all ISO20022 messages are public: https://www.iso20022.org/iso-20022-message-definitions There are tools that can turn the schema files into POJO/dataclasses/structs/etc in your language of choice, sometimes with proper data validation. Not sure about Typescript, but Java/Python/Golang definitely have those. It may very well be lost knowledge in certain ecosystems, but generating a valid XM…
I think there's always some ergonomic gap between these XML Schema generated classes and SDKs that developers are comfortable using. My intention for this library is for a non-payment developer to be able to interact with the ISO20022 schemas, while being as true to the underlying models as possible.