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Europe’s journey to ISO 20022

March 01, 2021

In brief

A key moment for financial services

Advantages of adopting ISO 20022

Lower operating costs

Adopting the new standard will boost the efficiency of internal business processes.

Improved fraud management

ISO 20022 can be leveraged to boost both fraud detection and prevention.

Refined payments insight

Value-added services can be built based on greater insight into the business purpose of customer payments.

Universal interoperability

ISO 20022 can unlock interoperability across all actors in the global payments ecosystem.

More automation

Acting as a pillar for automation infrastructure, ISO 20022 can reduce friction for automation, including straight-through processing.

Richer data

The new standard will enrich all streams of payments data, including remittance data, through enhanced structure and granularity.

Planning your ISO 20022 migration

"It is nothing less than an earthquake—one that will present challenges for the entire industry, and opportunities for those who manage their migration to the new standard correctly."

— BRITTA KOTTHAUS-KRAHMER, Director – Technology Consulting, Financial Services

MANAGING DIRECTOR – GLOBAL PAYMENTS LEAD


Britta Kotthaus-Krahmer

DIRECTOR – TECHNOLOGY CONSULTING, FINANCIAL SERVICES


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