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Time For B2B Payments To Get Standardized, Says Nordea

PYMNTS

But, according to Nordea, obstacles remain for ISO 20022 to take off as a payments messaging standard and provide corporates the efficiency they need. Further, not all internal banking and corporate systems can support the XML format that has gained traction in promoting ISO 20022 standardization.

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Clearing Up The Case For ISO 20022

PYMNTS

. “For people who haven’t been familiar with it in the past, they hear discussions about real-time payments and then they think ISO 20022 is real-time when it’s not,” Estep explained. “It’s ISO 20022 is also sometimes related to the programming language XML, but those two are also not one and the same.