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 […]
MX – the new “language” for cross-border payments – enters into force in November 2022. Which SWIFT XML broker will ensure smooth communication in global banking 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 banking, banks used long-distance […]
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 […]
Pay.UK’s technical documentation for ISO 20022 implementation heralds serious technical changes for UK payments. For those who need a time shield for ISO migration, we recommend using a flexible solution: a converter. The introduction of the international ISO 20022 Financial Services standard for payments messaging has brought about significant changes in the banking sector, including […]
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 […]
Going real time means benefits as well as challenges. See how banks can navigate the transition using a gradual approach and tools like Payres. When it comes to the banking client, the leniency margin is decreasing. Customers treat their bank like an online store. Things must be happening instantly and real time payments are a […]