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Opportunity Knocks on the Future of ISO 20022

Expanding the functionality of ISO 20022In 2009, ISO 20022 restructured and expanded the message sets for payments initiation, payments clearing and settlement,…

By Tom Durkin, Managing Director, Global Head of Integrated Channels, Bank of America Merrill Lynch | Updated on September 17, 2014

Expanding the functionality of ISO 20022

In 2009, ISO 20022 restructured and expanded the message sets for payments initiation, payments clearing and settlement, exceptions and investigations and numerous other areas, based on experience in actual implementation and usage experience. The results have been very successful as ongoing versions of the message sets have been updated and built on that base. However, there remain many potential applications for ISO 20022, some of which could help corporates to achieve long-cherished goals.

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