Welcome to Volante Elevate, where we explore what the world of payments will look like tomorrow, by talking to the experts who are building it today. Ready to take your payments IQ to new heights? Never miss an episode – sign up today!
The pace of ISO 20022 adoption in the Americas and across the world continues to pick up. Fedwire is on track to migrate to the ISO 20022 standard in early 2025. SWIFT and other cross-border payment schemes are already in transition, and most real-time/instant payment schemes, including RTP, FedNow, and SEPA Instant, run on ISO 20022. Banks and financial institutions are faced with the daunting challenge of modernizing “everything, everywhere, all at once.”
In this episode, we speak with Michael Knorr, Payment Industry Transformation Lead at Wells Fargo, about the evolving ISO 20022 landscape, and what financial institutions must do to move beyond mere compliance and tap into the data-moving power of this essential messaging standard.
It’s not easy being a bank payments technology leader. Business stakeholders are demanding faster time to market and better customer experience. Operations teams need higher STP and deeper analytics. Meanwhile, IT budgets are consumed by compliance and KTLO (“keeping the lights on”). So the right balance of build and buy for payments modernization has never been more important. In this episode of Volante Elevate, we talk to Dan Pilling, Executive Advisor and former CIO of Barclays, who has tackled these challenges and lived to tell us the tale.
While FedNow® has been getting a lot of attention recently, it’s not the only game in town when it comes to instant/real-time payments. The Clearing House RTP has been live since November 2017 and is now clearing over a million transactions a day, 24×7. Stream our “RTP Unboxing” event for the latest on the RTP network and how it can help your financial institution innovate for your customers.
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