ISO 20022 has been developed as a uniform and universal standard payments protocol to counter the problem of the existing unstandardized and uncharacterized way of formatting exchanges of financial and payment messages between countries, customers and banks. Global financial institutions must execute ISO 20022 compliancy by the end of November 2022 within the EU, and by the end of November 2023 in the US
What we offer
The new standard opens a world of possibilities for all players in the ecosystem. Leveraging AI and data analytics and new business insights can be gathered to enhance product and service offerings. Eviden is here to not only make your organization ISO 20022 complaint, but also to help realize the best possible outcomes of this new standard in technology, processes, and people.
Solution Features
Frictionless Cross-Border Payments
Single ISO 20022 payments standard implemented across all regions leads to frictionless cross-border payments
Automated Payments
Enhanced data and straight-through processing enables automated reconciliation, cash flow forecasting and liquidity management
Richer Reporting
Centralized data store for all payment transactions allows improved analytics and decision-making
Fraud Detection
Richer data carried in the payment message make it easier to detect fraud and help prevent financial crime
Innovative Products and Services
ISO20022 adoption drive innovation through the creation of new products and services, e.g. instant payments and open banking
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