ISO 20022 evolution: How to ensure interoperability 2023 | Finextra | 1 June 2023 | Webinar

Payment systems, especially when it comes to international payments, are in the midst of transformation as more financial institutions engage in ISO 20022 adoption. The transformation continues to be challenging, particularly because managing the flow of reference data through various transactions and shifting schemes to ISO 20022 will require centralised payment processing and interoperability between systems.

The move will create a better view on data analytics for institutions, permitting banks to offer more personalised offerings and services to their customer base. Benefits of ISO 20022 include reducing technological footprints and creating a more harmonised transaction infrastructure.

The abundance of rich data is a defining factor as financial organisations adopt ISO 20022 standards, and more banks are looking to capitalise from that data through greater insights, better reconciliation rates, automation and efficiency opportunities, improved customer service and improved fraud detection capability. Additionally, banks need to consider regulatory demands from authorities and how to manage customer and transaction screening. Banks should be open to considering how ISO 20022 can benefit every element of their business to leverage its true value.

2023 Speakers

MODERATOR:

Scott Hamilton
Global Payments & Liquidity Expert, Contributing Editor, Finextra

SPEAKERS:

Guy Moons
Head of International Solution Consultants on OPF, FIS Global

Damien Godderis
Payments industry engagement Manager, BNP Paribas

Giangiulio Bagnai
Associate Director Regulatory Programs, Natwest