Digital transformation continues to top the list of priorities in banking. However, the goal for 2023 is also to increase productivity and efficiency. Banks and financial institutions are also looking to digital solutions to help them to face increasing competition from FinTech’s and other innovative players. As the new year gains speed, we look forward […]
Most banks are only partially ready for ISO 20022, according to a survey conducted during the webinar at the Fintech Connect 2022 conference. Can we indeed get ready for payment innovations, or are we to brace ourselves for a new Neverending Story of the tech world? The state of work on ISO 20022 has been […]
Is islamic finance an ethical and fair alternative to modern banking, or is it an incomprehensible parallel world of finance? Regardless of where you come from, the Islamic finance system is part of cross border banking. As such, it needs to get ready to migrate to ISO 20022. The history of the Islamic finance system […]
The vision that the bank takes care of all your payments is tempting. Is there a new era of smart direct debits ahead? The technological key to popularizing variable recurring payments (VRP) are tools that enable advanced management of payment data. This article discusses: the benefits of open banking what is VRP what are the […]
The processing and analysis of huge amounts of data is becoming more and more important for the world of finance every year. How not to drown in a flood of data but to leverage the banking data by-product? This article discusses the following: why there is more and more data what needs to change for […]
If corporate back-office systems are not upgraded in time for the implementation of ISO 20022, we can expect critical payment bottlenecks in large companies. How to convert SWIFT messages to upgrade corporate ERP systems? This article discusses: what are the challenges of ISO 20022 for global settlements what is the specific challenge for corporate ERP […]
Improved work efficiency is one of the results of the “overturning” of IT banking architecture from vertical silos to horizontal data fabric. In exchange, you can count on increased efficiency and better customer experience and employee satisfaction. The last decade has been a turbulent period for the banking industry all over the world. Difficult market […]
Russia’s disconnection from SWIFT as part of the sanctions for its attack on Ukraine was discussed by EU stakeholders for several weeks. For some time, several member states did not support this step. In the end, the Italian finance minister changed his mind, which significantly increased the pressure on the German chancellor, and European values […]
In November 2022, a new “language” for cross-border payments will enter into force: the MX format. Which SWIFT XML broker to choose for smooth communication in the global banking world after the launch of ISO 20022? The history of cross-border payments began with… cooperation with the media. From the 1970s until the beginning of digital […]
In specialized tests, the point is not to “click through” the application, but to ensure the correct flow of the entire process. This is where domain knowledge comes in handy. George E.P. Box, dubbed “one of the greatest statistical minds of the twentieth century,” said discovering the unexpected was more important than confirming the known. […]