ISO Adoption
The evolution of financial services is unmistakably steering towards a future of seamless interoperability and the ability to handle rapid, complex message exchanges efficiently. In this dynamic landscape, regulatory frameworks such as ISO 20022 are emerging as critical enablers of this transformation, offering a standardized approach to messaging that simplifies global communication in finance. Adoption of new ISO 20022 standards can be critical for your institution considering the complexity of implementation, especially with legacy systems. Institutions also need robust regulatory compliance mechanisms to adhere to ISO 20022 standards which can vary by jurisdiction and schemes.
ISO 20022 will be the standardized global language for financial messaging, covering payments, cards, trade, securities, and forex due to the following benefits:
- Harmonization: Will enable frictionless cross-border payments and promote greater interoperability.
- Compliance and regulation: Rich data for Better-informed, instantaneous decisions & Accurate compliance.
- Enriched data: Operational efficiency, Easy reconciliations, Faster STP rates and lower TCO.
- Flexibility & Resiliency: Responsive to technology changes, innovation and adaptability
- Competition, and analytics: Data ripe for Improved analytics and decision making to further cross sell and up sell.
How LTIMindtree’s MT2 is driving the Game Changer in Financial Messaging transformation?
We offer a straightforward, tactical, low-cost, and easy translation solution for rapid adoption of ISO 20022. It comes with game-changing features as below:
Accept data in any format, bulk or single transaction
Receive, Validate, Enrich, Transform messages with exemplifying simplicity, clarity, and proven efficacy
Avoid Complete Overhaul & Renew – Low/No disruptions to Existing systems
Intuitive Dashboard for Monitoring and Control, Admin Interface
Technology agnostic, easy pluggable solution using open API protocols
Enables faster time-to-market to meet compliance timelines
Predefined translation library: Comprehensive solution utilizing predefined translation libraries to convert messages to and from ISO 20022
Contact Us
Get in touch today to see how we can tailor our ISO 20022 solutions to your needs.
