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UK Banks Urged to Act Now Ahead of New Cross-Border Payments Legislation ISO 20022 to Prevent Exclusion from International Payment Networks

Fintech Finance

With just over 18 months to go until the ISO 20022 compliance deadline, leading Quality Engineering company, Roq , is urging UK financial institutions to take the necessary measures now to finalise their plans and focus on the execution of a programme that is, by all published metrics, some way behind the curve.

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SWIFT: The Road To ISO 20022 Adoption

PYMNTS

PYMNTS recently spoke with Saqib Sheikh, global head of SWIFT’s ISO 20022 program, to learn more about SWIFT’s commitment to assist the financial community in the transition to the new standard in cross-border payments: ISO 20022. Richer Data With A Little Help From Our Friends .

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Fedwire’s ISO 20022 Migration Delayed By Federal Reserve Bank 

PYMNTS

The phase 1 implementation of the ISO 20022 migration strategy that was scheduled for November 2020 is being postponed by the Federal Reserve Bank, the U.S. SWIFT announced last year that it is planning to allow its users to send data-rich ISO 20022 messages across its global network starting in November 2021.

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Mastercard Reduces Cloud Onboarding Time by Up to Four Times

Fintech News

It also supports integration with modern payment technologies, such as ISO 20022-based Transaction APIs, and offers private, seamless connectivity across the region.

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ISO 20022 is the de facto standard for faster payments

Payments Source

The standard is playing a foundational role for banks in the transformation of their infrastructures, with the rich messaging format delivering business benefits and enabling enhanced customer propositions, says Icon Solutions' Lauren Jones.

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ISO's standards can bridge post-coronavirus international payments

Payments Source

One way banks can prepare for a smooth cutover to new standards is by implementing a core banking / payment solution that uses ISO 20022, says Infosys Finacle's Peter Ryan.

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Nearly Half of All Cross Border Payments Will Be Instant by 2028 Reveals Juniper Research

The Fintech Times

The adoption of digital payments is rapidly developing markets to the point that the value of B2B payments are set to grow by 40 per cent by 2028, from $89trillion in 2024 according to research from Juniper Research , the market research firm.