In view of the increasing digitalization of payments and the high demand of real-time transactions, the cross-border payment ecosystem is moving towards a new international messaging standard. Bank institutions around the world are adopting the ISO 20022 standard, which the SWIFT community is moving to, starting in November 2022, with an end-date for adoption of November 2025. This technology has been designed to improve the processing and exchange of banking information globally, with a far more data-rich model. This is not a simple evolution in terms of information technology. It is expected that it will dramatically improve both the organization’s experience and that of the end user.
These topics were explored by a panel of industry experts in the webinar, “How to Improve Bank Payments: Towards Data Quality, Risk Management and Cost Efficiency”, which is the basis for this White Paper. Download it Now!