Once the magnitude of the implied changes in payment messaging is understood, financial institutions must carefully plan the migration to the new ISO 20022 standard. This may well involve a number of issues which are not obvious with no clear pathway to a smooth migration. There are multiple factors to be considered in developing a suitable strategy. Unlike other financial
The migration to ISO 20022 MX payment messaging is set to reshape the payment industry and is recognized as the worldwide standard for the future. Many countries are in the process of migration their infrastructure systems and all the financial institutions have initiatives with the highest priority. The standard FIN messages in place today restrict the potential of digitalization, automation