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Panel members included Russ Waterhouse , EVP at The Clearing House; Mike Kresse , SVP card and money movement at FIS; Jane Larimer , CEO at Nacha; David Scola , chief executive, Americas and UK at SWIFT; and Jeremy Allaire , CEO at Circle. Moving Beyond ACH .
The ISO20022 messaging standard has been seen as a potential way of achieving the latter, and has been drawing increasing global attention. Deep Data For Swift, Secure Payments . ISO20022 introduced a range of data fields that allow transactional details to be remitted along with payments. Hurdles And Supports
As SWIFT continues to promote the adoption of the ISO20022 payments messaging standard across financial institutions, the company said it is zeroing in on the potential for ISO20022 harmonization in the high-value payments space. To highlight that potential, SWIFT revealed on Thursday (Aug.
An interoperable cross-border solution could remove these frictions and provide smooth transfers between two real-time payment systems, while a single, globally accessible faster payments service could offer swift end-to-end transfers. Mixed Demand and ISO20022. and Australia’s NPP. Disharmony.
Though it can be traced back to 2004 and was revised as recently as 2013, the ISO20022 framework is still a source of confusion across the payments industry. WHAT ISO20022 ISN’T. ISO20022 is also sometimes related to the programming language XML, but those two are also not one and the same.
And you don't have to worry about expensive and long implementation cycles or connectivity with payments rails, whether it’s TCH or SWIFT.” Platform models enable white-label services, he noted, which can also take care of compliance and regulatory hurdles and smooth banks’ transitions to ISO20022.
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