Wrapped in data, and with its volume growing faster than ever, decision-making is dependent on reliable information. Bringing the information stored in different data lakes together for the overview that the executives need is a major challenge. That’s where data integration technologies come in handy. This article discusses: Data integration is meant to aggregate data […]
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 […]
Financial institutions are racing against time to launch the basic functionalities of ISO 20022 before March 2023. However, everyone is looking to the benefits that rich data in business is supposed to bring. For now, however, there are no daredevils who would state exactly what can be done and how, to ensure the consistency of […]
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 financial data and payment data. This article discusses: Digitization has increased consumer expectations for more personalized […]
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: From November 2022, a new format for cross-border transfers comes into force, SWIFT MX, which is compliant with […]
Improved work efficiency is one of the results of the “overturning” of IT architecture in a bank: from vertical silos to horizontal data fabric. In exchange, you get boosted efficiency, better customer data analysis, data driven decision making, and employee satisfaction, all powered by big data. The last decade has been a turbulent period for […]
EU’s pivotal decision to disconnect Russian banks from SWIFT over Ukraine casts a stark light on the system’s global economic role. By neglecting to implement ISO 20022 standard, banks might one day find themselves excluded from the mainstream of international money transfer. Russia’s disconnection from SWIFT transfers as part of the sanctions for its attack […]