The introduction of ISO 20022 is a seismic shift in international payments, one that presents tremendous opportunity to banks and other financial institutions. However, introducing it in a way that allows C-level executives to take advantage is time consuming, disruptive and often costly. Learning a new data language comes with complexities and challenges, and ISO 20022 is no exception, requiring significant handholding to adopt and implement.

As the world embarks on its ISO 20022 adoption journeys, and evaluates the choice between tactical and strategic approaches, Accenture and Fiorano have jointly explored some of the benefits ISO 20022 brings to the table. In this whitepaper, we discuss various practical and pragmatic implementation approaches, and why a canonical data model and supporting architecture are critical considerations.

Download the whitepaper to learn about:

  • The key attributes and benefits of ISO 20022
  • ISO 20022 use cases: Payments trend analysis, Liquidity trends and projections, and Purpose assessment and hyper-personalization
  • Why a canonical data model is important
  • The Accenture view on ISO 20022: Challenges and opportunities for financial institutions
  • Suggested risk-mitigation approach for Financial Institutions
  • How Fiorano ISO 20022 Accelerator with canonical data model helps Financial Institutions fast track ISO 20022 adoption

Authors


Britta Kotthaus-Krahmer

Director

Banking Transformation and Platform Services

Accenture Consulting

Biju Suresh Babu

Managing Director

Banking and Financial Services

Fiorano Software

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