ISO 20022 will create interoperability between various settlement networks using far richer payments data that should result in higher levels of straight-through processing as well as more efficient compliance processes.

Our Messaging Hub supports ISO 20022 as well as other standards such as SWIFT ISO 15022 (FIN), electronic banking, local clearing internal systems and bespoke. Most financial institutions will rely on supporting both these SWIFT standards for some years and our solution can consume or produce either format based on business requirements

If there is a need to translate between formats then this can be configured using our Translation Tool. Our Translation Tool is a robust and flexible solution for converting MX to MT formats and vice-versa. The Translation Tool provides the base mapping rules as well as any tailored mapping rules that differ between the various payment systems and allows for translation for even the most complex of message structures.