ISO 20022 Migration

Quality data renders quality results!

Improving data quality and payments across borders with the ISO 20022 migration.

The increasing need for modernizing and establishing an enriched solution for Payments is taking shape through ISO 20022. An emerging global and open standard, ISO 20022, is aiming at eliminating message complications, increase straight-through processing rates, and improve the quality of compliance with global payment systems.

ISO 20022 Migration Challenges

The implementation seems to be quite mysterious, even for payment specialists.

There is a big challenge with data truncation, as a loss of data when transforming between legacy and new standards – and the consequent impact not just on core payments processing but peripheral workflow steps like sanctions, AML, and liquidity. Some financial institutions are also concerned about integrating the new format with the legacy applications while complying with regulatory regimes.

Modernize your Payment fabric

ECS Fin’ ISO 20022 Migration Toolkit helps transform your Payment capabilities to seamless integrate and incorporate the latest ISO 20022 messaging protocol without the need to disrupt your existing environment. Our solution supports multiple data mapping formats and message workflows in accordance with best market practices.