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NewGen ISS

NewGen ISS

​​​The New Generation of IATA Settlement Systems (NewGen ISS) aims to transform the current ISS business model which facilitates the distribution and settlement of funds between travel agents and airlines.

About Accreditation Risk Mgmt Global Insurance EasyPay Resources
 

​The objective of this pillar is to mitigate risk exposure and drive a more secure BSP environment through the introduction of an enhanced risk management framework.
 
The proposed framework will operate under the following key principles:
 
  • Agents participating in the BSP with access to cash as a form of payment, will be granted a maximum capacity, as a monetary amount, for their BSP cash sales outstanding to the BSP. This is known as the Remittance Holding Capacity (RHC) and will for the majority of agents be calculated based on the average of the three busiest periods plus 100%. Measures will be available to agents allowing them to manage their capacity, and to continue selling in a secure manner once their capacity is reached
  • The chosen accreditation model of the agent will determine the applicable risk management, including which financial assessment will be performed
    • GoGlobal (Multi-Country Accreditation) – quarterly financial assessment of the head entity
    • GoStandard (Standard Accreditation with Cash Facility) – annual financial assessment per local financial criteria
    • GoLite (Standard Accreditation with No-Cash Facility) – no annual financial assessment
  • The agent’s history in the BSP relates to their ability to pay and capacity to fulfill financial requirements will be factored into the risk management conditions applied
  • The outcome of the agent’s financial assessment and risk history in the BSP will determine the agent’s risk status, financial security requirements and applicable RHC calculation.

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