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Standards

Deutsche Bundesbank eases banks into ISO 20022

“Deutsche Bundesbank, the German central bank, is using Swift MyStandards and Readiness Portal to support the European banking community migrate payment flows to the ISO 20022 standard. The central bank will use the platform to ensure a smooth transition for community members. Deutsche Bundesbank is a member of the four central bank service providers for the Target services. The Readiness Portal […]
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Standards

ISO 20022: standard built for FSI disruption

“There are currently over two hundred ISO 20022 standards adoption initiatives in the global financial services industry, and over half of these are operating in a live capacity. Asia is no exception with more than twenty cases of ISO 20022-based financial market infrastructures in production mode. These include stock exchanges and central securities depositories (CSDs) in […]
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Standards

Consultation on ISO 20022 Migration for Australian Payments System

“The Reserve Bank and the Australian Payments Council (APC) today issued a consultation paper seeking stakeholder views on the migration of messaging used in some parts of the Australian payments system to the International Organization for Standardization (ISO) 20022 payments messaging standard. The Australian payments system comprises a number of payment services, clearing systems and […]
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Standards

New Swift ISO Will Be Delayed

“A proposed migration date for a new ISO covering cross border payments looks set to be delayed by a year. The ISO 20022, which was proposed by international financial network service provider Swift, was due to come into force in November of next year (2021). The aim of the new system was to provide a […]
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Standards

Ripple Gets Ready for ISO 20022

“Ripple claims to have become the first blockchain-focused payments company to join the ISO 20022 standardisation committee, future-proofing its business for the eventual arrival of the data-rich messaging protocol.”
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Standards

ECB Steps in Over Swift’s ISO 20022 Migration Delay

“During its March 2020 meeting the Swift Board and Executive endorsed a decision to shift their ISO 20022 migration date for cross-border payments from November 2021 to end 2022.The unexpected decision was met with surprise from institutions across the European market which now face another hurdle in the monumental transition to the new data-rich financial […]
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Standards

SWIFT Intends to Change Its Operations With ISO 20022 Delay, Fiserv Says

“SWIFT, the financial messaging provider, is using the delay of ISO 20022 to evolve its financial messaging service into transaction management, according to Fiserv’s David Chance. The delay of the new messaging standard ISO 20022 been brought on because SWIFT is intending to play a bigger role in the cross-border payments space. With the new […]
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Standards

ECB responds to Swift’s blueprint for ISO 20022

“Under instruction from the European Central Bank, interbank payments network Swift has drawn up a blueprint designed to mitigate complications borne from its surprise decision to delay the migration to the new ISO 20022 messaging standard. A letter obtained by Finextra Research addressed to Swift’s CEO from the ECB requested that Swift mitigate the challenges […]

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