ISO 20022 for Payments: The New Global Messaging Standard
Learn how Pain001 can help you adopting ISO 20022 through compliant message generation and integration
ISO 20022 is a new global messaging standard for financial information. It is being adopted by banks and financial institutions around the world to improve the efficiency and accuracy of payment processing.
ISO 20022 offers a number of benefits, including:
- Improved data quality: ISO 20022 uses structured data, which makes it easier for computers to process payments accurately.
- Reduced costs: ISO 20022 can help to reduce the cost of payment processing by automating manual tasks.
- Increased transparency: ISO 20022 provides more information about payments, which can help to improve transparency and reduce fraud.
Benefits of adopting ISO 20022
- Better regulatory compliance with rich remittance information
- Enhanced visibility into transaction details for reconciliation
- Future-proof payments infrastructure using a modern messaging standard
- Help financial institutions to reduce the cost of processing payments
- Improved payment processing with structured and standardized data
- Opportunity to offer advanced services like cash management
- Reduced manual errors through automation
Pain001: Your Guide to ISO 20022 Migration and Adoption
Pain001 provides end-to-end guidance and solutions to help you transition smoothly to ISO 20022.
With Pain001, you can:
- Minimise disruption and errors during migration,
- Quickly generate ISO 20022 payment initiation messages like pain.001 from CSV or database sources (SQLite),
- Seamlessly integrate ISO 20022 into your payments infrastructure,
- Validate messages to ensure ISO 20022 standards compliance.
By using Pain001’s Payments Automation Capabilities, your organisation can adopt ISO 20022 efficiently. Reduce manual efforts in payment processing, improve transaction data quality, and future-proof your payments infrastructure.
Empower your Cross-Border Payments with ISO 20022 Payment Initiation Messages and discover Pain001’s solutions for generating them efficiently.
Contact Pain001 today to find out how we can support your institution’s ISO 20022 migration journey.