Addresses challenges for financial institutions by providing a seamless, single access point to multiple payment and securities networks, systems and infrastructures across the globe.
ISO 20022 is predicted to support 80% of volume and 90% of the value of high-value transactions and SWIFT has mandated that ANY financial institution that processes SWIFT messages must be able to receive and process ISO messages by the end of 2022.
However, many banks and financial institutions have underestimated the complexity of the necessary changes of the migration as the transition isn’t just a simple upgrade of process. Existing infrastructure and legacy systems are not sophisticated enough to deal with the speed of integration and transition required.
This paper will explore trends in payment system access models and examine how the move toward open access can enable the next-generation of payment services. Download today to kick-start your real-time payments strategy.
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