Overcome the challenges of ISO 20022 Migration | ECS Fin

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ISO 20022 Migration

Quality data renders quality results!

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

  1. 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. 

ISO 20022 migration Challenges

Modernize your Payment fabric

  1. 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.

Benefits of ISO 20022 Migration

By 2025, 80% of high-value payments and 89% of the value of transactions worldwide will adopt the new 

“big bang” ISO 20022 

Increase the effectiveness of fraud detection and prevention.
Seamlessly connect various systems using special adapters that support APIs, Databases, TCP/IP, and MQ Series.
Conduct business-driven gap analysis to offer a tailor-made solution   
Quick and easy implementation with a lower TCO.
Eliminate data truncation challenges.
Simplify migration complexities 
Learn how our solutions have helped companies and banks around the world

Case study

FAQ​ About ISO 20022 Migration

Want to know more about ISO 20022 migration?

Check out our blog post dedicated to exposing a non-disruptive way to adopt ISO 20022