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.
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