Remove Interoperability Remove Liquidity Management Remove Message Standards
article thumbnail

RT2: A strategic transformation for UK payment providers

The Payments Association

It enhances resilience, broadens access, improves interoperability, and enables innovation, thereby modernising the UK’s financial infrastructure. RT2 offers four key advancements: enhanced resilience, expanded access, wider interoperability, and improved functionality. Why is it important? What’s next?

article thumbnail

Successful Migration of the Kenya Electronic Payment and Settlement System to the ISO20022 Global Messaging Standard

Fintech Finance

The Central Bank of Kenya (CBK) announces that the Kenya Electronic Payment and Settlement System (KEPSS) has been successfully migrated to the ISO20022 Global Messaging Standard (“ISO20022 Standard”). ISO20022 is the latest international open standard for financial messaging that is being adopted globally.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Volante: Banks Must Look Beyond Speed With Real-Time B2B Payments

PYMNTS

One of the biggest opportunities is in the ability for real-time payments technologies to not just move money quicker, but to also move rich data along with the transaction, particularly amid spreading adoption of the ISO 20022 payments messaging standard.

B2B 117
article thumbnail

RTP: Achieving Ubiquity Without A Mandate

PYMNTS

An embrace of global standards like the ISO 20022 messaging standard will be key, said Killam. Learning from World Peers. Faster Payments Council , which also recently secured sponsorship from the Federal Reserve. In the U.S.

RTP 72
article thumbnail

Citizens Bank’s Corporate Real-Time Payments Play

PYMNTS

is fragmented, Richardson said, and faster payment systems can remove some of the headaches of managing payments data and reconciliation. The rail was built on the ISO 20022 messaging standard, which sends data and payments together. Federal support could also come from a proposed real-time liquidity management tool.

article thumbnail

The payments regulation roadmap: Q2 2025

The Payments Association

Related links: Financial promotion rules for cryptoassets Financial promotions data 2024 Top regulatory priorities for the payments sector Mandatory adoption of ISO 20022 for cross-border payments (final preparations Q2) The transition to ISO 20022 for cross-border payments is a fundamental shift in global financial messaging standards.