Correspondent Bank Message Standards Reconciliation 
The Payments Association
JUNE 9, 2025
This is more than 'coding to the spec'; different and new software is required by originating institutions, correspondent banks, intermediate banks, and even regulators or central banks to realise the advantages." Early adopters will secure a lasting competitive advantage in this evolving landscape.
PYMNTS
AUGUST 1, 2019
Payments messaging firm SWIFT has released its first set of guidelines for financial institutions using the ISO 20022 payments messaging standard to complete cross-border transactions. “Adoption of ISO 20022 will continue the transformation of correspondent banking already ongoing,” SWIFT said in its announcement.
PYMNTS
AUGUST 16, 2019
Forty-seven percent of treasurers said they want visibility into the cost and deductions from a transaction, and 64 percent want real-time tracking capabilities to help reduce the rate of reconciliation errors. More than 110 banks from Europe, Asia Pacific, Africa and the Americas are part of the SWIFT gpi, which has been in a pilot stage.
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