![]() Join us, it's free of charge - Andrew Muir Scott Tomlinson Biju Suresh Babu #banking #payments #iso20022 #innovation #fintech #ukeconomy Nth Exception is proud to be joining TES Enterprise Solutions and Fiorano Software at the #TEStalk ISO 20022 migration workshop in London on May 24th, where amongst other topics, we will be discussing the 3 elephants in the (ISO 20022) room: Jumbo, Trumpet and Spike! This suggests a data warehouse alone may not be sufficient, but FIs will need to be able to transform and curate messages, rather than just storing them, to ensure access at speed and with the flexibility to mitigate known risks, such as data loss in truncation and others. Not just processing of the payment, but what is then done with payments meta-data, as compliance personnel will need access to rich payments data for reporting purposes. In consequence, FIs adopting ISO 20022 need to ensure they are really ready to efficiently manage ISO 20022 payment messages. Being an XML message it is extremely flexible, allowing Financial Institutions to transmit as much - or as little - information as the scheme wishes. ISO20022 has several nuances users should be mindful of. Events that redefine an industry's landscape such as what ISO 20022 is doing for cross border and in-country payments are rare.
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