We are definitely entering a new era with ISO20022. Many financial institutions are implementing Real-Time Payments schemes on the ISO 20022 standard already. For some, ISO 20022 is just a technical standard. It is exactly that – but it leads to so much more. It is the basis for access to full data across the value chain. Forward thinking institutions know that rich data is now the key.
ISO 20022 is an increasingly established global language for payments messaging. In the coming years it will be the de facto standard for high-value payment systems of all reserve currencies, supporting the majority of global volumes worldwide.
By creating a common language and model for payments data, ISO 20022 significantly improves the quality of data across the payments ecosystem. Richer, structured, meaningful data will enable new client experiences, while improving compliance and efficiency.
With that, ISO 20022 is the key catalyst of change for banks to enter the age where data is a strategic asset. ISO 20022 allows the full data (not just a few characters of free text) to be connected end-to-end and, most importantly, allows all information to flow right from one side to the other (regardless of how many countries, banks, intermediaries, networks there may be in between).
This full end-end access to the full data opens a whole new suite of opportunities for cost reduction and better service for both banks and customers. By exchanging richer information banks can redesign operations, improve on delivery and develop new products and interactions with their customers.
This live expert Webinar will share deep-insights on the key operational, infrastructural and technical factors to support banks towards an optimal migration and use of the new opportunities. A change to modernize and optimize for decades to come. Key global ‘best-practices’ will be shared and discussed.
Key Topics for discussion:
What is the status of ISO 20022 in Asia and Europe.
Sharing key lessons learned from European best practice cases.
How will the cost for migration be compensated by increased standardization.
What are the key priorities for banks.
How to avoid implementation barriers, higher costs and longer timelines.
What new business models are enabled.
Best practices for cash and payment management, sending remittance information and corporate adoption.
Who will join?
Senior Executives from the financial services industry globally.
(CTO/CIO/Payments Executives/regulators/industry stakeholder)