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. […]
With smart solutions in place, you can reroute your timeline for the ISO 20022 new messaging standard by June 2022. What’s more, your CHAPS ISO 20022 transition project can be leveraged to win market advantage. Clearing House Automated Payment System (CHAPS) is the fastest payment model in the UK and one of the first European […]
In developed countries, instant payment settlement has moved on from “nice to have” to “must have”. There is practically nothing that would prevent an international instant transfer settlement system, except that building one is a demanding task. National instant payment systems are already operational or are being launched worldwide. Banks across Europe are very aware […]
In the era of ever-increasing data volume, the importance of efficiently communicating it is growing. And that’s where data visualization steps in. As banks use an increasing volume of data, proper visualization will allow its best possible utilization, pointing to important details, which are not so obvious at first glance. Make coordinates the backbone The […]
Banks collect and process vast amounts of data, yet few approach it as if it were the most valuable of their assets! In fact, it is fair to say that when it comes to extracting relevant and useful business insights from their data, financial institutions are not maximizing their value. According to Capgemini’s “For Successful […]