Real-time payments have emerged as a transformative force and a cornerstone of payments modernization. Learn what they are — and much more — here.
Swiss financial institutions have long been at the forefront of innovation in the payments and messaging space. However, the need to modernize their fragmented and aging infrastructure to comply with ISO 20022 presented a critical challenge.
In a recent episode of Volante Elevate, we spoke with Michael Knorr of Wells Fargo about the evolving ISO 20022 landscape, and what financial institutions must do to move beyond compliance to tap into ISO 20022’s data-rich potential.
Unlike its predecessors, ISO 20022 is data-rich, flexible, and designed to accommodate the ever-changing needs of the financial industry, including the need for real-time processing, enhanced fraud detection, and better regulatory reporting.
For financial institutions, adopting ISO 20022 is not just a compliance exercise but a strategic opportunity to enhance customer insights, streamline financial crime compliance, and unlock new value propositions.
March 10, 2025 marks an important date in the journey toward modernizing legacy payment systems. This article will provide context behind Fedwire’s impending migration and explain what banks stand to gain from ISO 20022 compliance.
With compliance deadlines fast approaching, banks and payment service providers (PSPs) must work with increased urgency to enable messaging over the ISO 20022 standard.
The FedWire migration to the ISO 20022 messaging standard for wires is scheduled for March 10, 2025. Yet, despite the clear deadline and the potential benefits, many banks remain unprepared or unaware of the magnitude of this transition.
Part 2 of this two-part series explores the angles of different ISO 20022 adoption methods, and reviews new opportunities for collaboration and partnerships between financial institutions, technology providers, and other stakeholders to leverage the benefits of ISO 20022.
Recently, Volante hosted a webinar that brought together payment executives from leading FIs to discuss the benefits, perils, and paths toward adopting ISO 20022 for cross-border payments. First in a two-part series.
While compliance remains a driving factor in the ISO 20022 transformation, it's crucial for financial institutions to recognize and capitalize on the vast business opportunities it offers.
The service delivers instantaneous fund transfers and operates beyond regular banking hours, defying the lags traditionally associated with such transactions.
While instant payments growth in the Middle East appears to be a net positive for consumers, it also poses considerable challenges to regional banks and FI's.
