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Whitepaper
The ongoing transition to the ISO 20022 messaging format enables those financial institutions that are capable of adjusting swiftly to profit from the new global standard, while benefiting their customers’ businesses at the same time. To prepare for what’s ahead, financial institutions must redesign their entire core systems and increase digital capabilities. While the competition for traditional banks is shifting towards FinTech and Big Tech players, the importance of an agile state-of-the-art data integration ecosystem to support modern payments cannot be underestimated.
Now is the time to implement the technology for innovation, collaboration and delivery of new services while also getting ready for upcoming regulations and standards.
ISO 20022 migration is pushing financial institutions to examine existing payment pain points such as onboarding, monitoring and processing within core banking applications. Many still view ISO 20022 as a necessary evil, but done right, the new format can unlock a wealth of benefits and new opportunities.
This short paper offers concrete examples of how a modern payments integration hub can help you achieve strategic technical goals that result in tangible business outcomes, enabling a smooth migration to ISO 20022 while creating a consolidated, future-ready framework for Open Banking initiatives and other critical ecosystem-enhancing projects.
Benefit from the features of the SEEBURGER Payments Integration Hub:
Create a better payment experience across all channels with a modern Payments Integration Hub and ISO 20022.
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