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Report: Five success factors for an ideal ISO 20022 migration

FinTech Futures has launched its latest report, on the migration to the new ISO 20022 standard.

ISO 20022 Report pipes

ISO 20022 can lay the groundwork at banks to power their future innovation

The payments migration by major banks and Swift to ISO 20022 has been rightly hailed as a defining moment for the financial services industry.

Such is its potential impact that banks and financial institutions cannot afford to think of their implementation of the new standards as just another IT project, or a box-ticking exercise.

ISO 20022 represents an opportunity for banks to reinvent the way they operate and prepare for a digital future.

Significant changes are on the horizon for banks and financial institutions whether or not they acknowledge the opportunity presented to them. There are a multitude of operational, infrastructural, and technical considerations and rising to meet them will be key to success.

This report, produced in collaboration with Volante Technologies, features expert opinions from, Wells Fargo, HSBC, Deutsche Bank, and Omdia. It explores the key factors which will help financial institutions adopt the ISO 20022 standard and use it as a launchpad for future innovation.

The analysis provides guidance on the following key factors of an ISO 20022 migration:

  • Understanding migration timelines
  • Evolving legacy infrastructure
  • Mitigating data truncation
  • Anticipating the co-existence of standards
  • Preparing for future interoperability

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Published at Mon, 29 Jun 2020 10:45:55 +0000-Report: Five success factors for an ideal ISO 20022 migration

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