ISO20022: Reckoning with change in the global payments system

Issue 603: 24 April 2024

ISO20022: Reckoning with change in the global payments system

While ISO 20022 is not new, it will soon become the de facto standard for sending financial messages between financial institutions and businesses. The drive and industry development behind upgrading payment infrastructures, instant payments and cross-border payment capabilities make adopting ISO20022 paramount in its importance and urgency.

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Only with it can true interoperability be achieved

We gain more insight from payments industry expert Mike Chambers and Bottomline’s Frederic Viard.

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Today’s Payments:Unpacked is brought to you by Bottomline

With the ISO 20022 Co-existence period underway since March 2023, extending until November 2025, and 19% of global cross-border payments traffic on Swift already utilising ISO 20022 as of December 2023, the momentum towards this universal messaging standard is palpable.

Now is the time to talk to Bottomline.

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