ISO 20022

ISO 20022 is a global standard for financial messaging that enables more structured and data-rich communication between payment systems. Designed to standardize and enhance interoperability across financial institutions, ISO 20022 supports the exchange of detailed transaction data in a consistent format.

From a payments perspective, its key benefits include improved efficiency through automation, enhanced data insights for compliance and fraud prevention, and faster, more transparent cross-border transactions. By enabling richer data, ISO 20022 helps businesses streamline reconciliation, reduce errors, and improve customer experiences, while also aligning with the evolving demands of the global financial ecosystem.