ISO 20022 migrations have proven to be both complex and time-sensitive for banks and their corporate clients, prolonging adoption efforts. Improper implementation can have a lasting impact on day-to-day operations and could pose long-term reputational damage.
ISO 20022 Data Transformation solutions enable banks and other financial institutions to seamlessly adopt the ISO 20022 standard and deliver innovative solutions to their corporate customers.
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Break down cross-border barriers and support global payments with standardized financial message structures.
Automate reconciliation efforts, ensure remittance details travel with payments and support transactional integrity with standard semantics and syntax.
Accelerate straight-through processing rates for accounting teams with enriched data and remittance information.
Gain visibility into payment origination and processing to ensure compliance with industry-wide global standards.
Streamline and automate payment operations for corporate customers by introducing integrated payables and receivables solutions.
Increase efficiency with structured data that allows for easier integration with workflows and solutions as well as parsing for searches and payment tracking.
Banks must guide corporate clients through their own ISO 20022 migrations to help them fully leverage the benefits. However, banks often lack the internal support resources for such a new and complex standard. Empower teams for fast, simple implementation.
Banks must be compliant with frequently changing standards. Existing data is not robust or structured enough, restricting visibility into payment origination and departure and threatening noncompliance. Ensure compliance with highly structured ISO 20022 data.
OpenText Consulting Services combines end-to-end solution implementation with comprehensive technology services to help improve systems.