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Part 1 gives critical business insights into: Key trends expanding the cross-border payments economy How the ISO 20022 payments messagingstandard will transform speed, data quality, and reconciliation globally. How Blockchain Technology Is Streamlining Treasury Management. Click here to download the report.
Wider interoperability ISO 20022 interoperability RT2 implements ISO 20022 as its native messagingstandard, unlocking enhanced interoperability and richer data capabilities across both domestic and international payment flows. This supports automated processes, better treasury management, and faster decision-making.
Tokenized Sustainability Credits: Corporates can settle parts of cross-border payments with on-chain carbon tokens or biodiversity credits, automating offset procurement during reconciliation. Data & MessagingStandards: ISO 20022 Extensions: Pacs.00x offset purchase) where needed. carbon score, green flag).
Large corporates built bespoke treasury systems to manage multi-bank transfers, FX conversion and reconciliation. ESG-Tagged Treasury Corporates earn “green rebates” when funds cycle through sustainable project wallets. End-to-End Flow Invoice Ingestion: Corporate ERP POSTs invoice data; triggers off-chain reconciliation rules.
Panelists included Sarah Billings , PNC’s senior vice president and head of payments product, operations and strategy; Bridgit Chayt , Fifth Third Bank’s senior vice president and director of commercial payments and treasury management; and infrastructure expert Domenico Scaffidi of Volante Technologies. Eyeing Efficiency . Looking Ahead.
Volante Technologies , which works in cloud payments and financial messaging, is working with Citi to expedite Citi’s adoption of the ISO 20022 financial messagingstandard, according to a press release.
“Processing corporate payments as peer-to-peer, directly on blockchains, gives for instant settlement and, therefore, real-time reconciliation and accounting,” the company said. Real-time payments and reconciliation, the company added, could be a major boost to corporate cash management efforts, too.
The study surveyed 300 treasury professionals involved in international business across several industries and found that 64 percent want real-time tracking capabilities. Treasurers find this to be of importance because it can help reduce the rate of reconciliation errors.
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 messagingstandards.
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