Huw Price’s Post

🚀 Embracing ISO 20022: A Shift in Financial Messaging 🚀 ISO 20022 revolutionizes financial messaging with its XML-based format, offering greater flexibility and extensibility. However, this comes with added complexity. Key Challenges: 🤔Diverse Message Formats: Covers payments, securities, trade services, and more. Each domain has unique message definitions, data elements, and validation rules, complicating test data management. 💽Data Interdependencies: Intricate relationships between messages (e.g., a payment message needing details from a trade confirmation) demand consistent and accurate test data. Overcoming Challenges: 💰Invest in test data management tools 🤝Foster collaboration 💡Develop a robust test data strategy 🤖Embrace automation and continuous testing Effective test data management is a strategic imperative. A holistic approach is essential! #ISO20022 #FinancialStandards #TestDataManagement #FinTech #QualityAssurance #Automation #ContinuousTesting

🚀 Embracing ISO 20022: A Shift in Financial Messaging 🚀 ISO 20022 revolutionizes financial messaging with its XML-based format, offering greater flexibility and extensibility. However, this comes with added complexity. Key Challenges: 🤔Diverse Message Formats: Covers payments, securities, trade services, and more. Each domain has unique message definitions, data elements, and validation rules, complicating test data management. 💽Data Interdependencies: Intricate relationships between messages (e.g., a payment message needing details from a trade confirmation) demand consistent and accurate test data. Overcoming Challenges: 💰Invest in test data management tools 🤝Foster collaboration 💡Develop a robust test data strategy 🤖Embrace automation and continuous testing Effective test data management is a strategic imperative. A holistic approach is essential! #ISO20022 #FinancialStandards #TestDataManagement #FinTech #QualityAssurance #Automation #ContinuousTesting

💬 ISO 20022 Migration – Is it Time to Rip off the Band-Aid? Why hasn’t ISO 20022, introduced nearly 20 years ago, become the standard across the securities industry? 🤔 Why Make the Shift? 🌐✨ ISO 20022 is more than just a new messaging standard – it’s a pathway to greater efficiency, transparency, and interoperability across markets. With its rich data model, ISO 20022 allows for fewer errors, better automation, and deeper insights. Imagine reduced processing times and enhanced client service as a result of streamlined operations and fewer manual interventions! 🌐✨ A Unified Standard Across Borders 🛠️As markets worldwide adopt ISO 20022, having a single, common standard means fewer translation errors and less fragmentation between systems. A unified approach could revolutionize global transactions, creating a seamless experience across borders and enhancing efficiency at every step. 🛠️ Future-Proofing the Industry 🚀 ISO 20022 is adaptable to evolving regulatory demands and new business requirements, setting the stage for long-term stability and resilience. Moving forward with this standard now positions the securities industry to meet future changes head-on, ensuring it remains competitive and agile in an ever-changing financial landscape. 🚀 The Road to True Interoperability ➡️ While ISO 15022 has served us well, embracing ISO 20022 unlocks true interoperability. A single standard for data exchange would help institutions deliver value across the entire transaction lifecycle, benefiting clients and stakeholders alike. ⬅️ So, is it time for the securities industry to make a unified push for ISO 20022 and embrace its full potential? #ISO20022 #FutureOfFinance #Interoperability #GlobalStandards #DataExcellence #SecuritiesIndustry #FinancialInnovation

Mastering the Transition to ISO 20022: Strategies for Compliance and Automated Testing in Financial Services The future of #financialservices is here, & #compliance is key. Our latest #research paper offers a comprehensive guide to help institutions navigate the complexities of this global #financialmessaging standard. From the evolution of #testing to the transformative benefits of #automation, this Finextra report, in association with UNIFITS GmbH provides actionable #insights to ensure operational #resilience, #efficiency, & a competitive edge. Stay ahead of the curve by adopting industry-specific, automated solutions that streamline compliance & future-proof your organization for what's next ➡️ https://bit.ly/4d6J43s #fintech #ISO20022 #finance #money #payments #banking #banks #financialservices #financialinstitutions #standards #regulation #compliance #technology #innovation #future #trends #digitalpayments #instantpayments #realtimepayments #crossborderpayments #internationalpayments #commercialbanking #cashmanagement #internationaltrade #tradefinance #RTGS #settlement #reconciliation #liquidity #PSD3 #CBPR #MiCA #SEPA

The shift to ISO 20022 is transforming the way financial institutions approach data-rich payment messaging, ensuring improved compliance, interoperability, and automation. This transition brings powerful benefits, but it also requires a strategic approach to align with industry standards and enhance testing capabilities. Explore this guide to discover actionable strategies for seamless ISO 20022 compliance and automated testing in financial services! 💳🌐 #Fintech #ISO20022 #Payments #Compliance #Automation #FinancialServices #Innovation

Thank you Finextra, for spotlighting this crucial topic on mastering the transition to ISO 20022! 🏦 As the financial services sector faces increasing regulatory pressures, this comprehensive report couldn't come at a better time. Collaborating with Finextra, Unifits, and expert contributors from BearingPoint and Accenture, we provide valuable insights on how institutions can navigate the complexities of ISO 20022, highlighting the critical role of automated testing in streamlining compliance and ensuring future readiness. From evolving testing strategies to real-world case studies, this paper is essential reading for any organization looking to turn this migration into a strategic advantage. ✅ Download the report now for free: http://bit.ly/4esEjSI

Only 2 days left!! ISO 20022 Migration : Structured Data – Free Webinar on 28th Nov! The webinar is approaching, and the seats are very limited. 👇 Register quickly 👇 - We look forward to having you join us. . . . . . . . . #CorporateBanking #DigitalBanking #CorporateTreasury #BusinessLending #B2BBanking #BankingInnovation #BankingCompliance #FinancialCompliance #RegulatoryCompliance #ComplianceManagement #RiskManagement #ComplianceTech #RegTech #FinancialRegulations #Fiorano #FioranoIntegration #IntegrationPlatform #APIIntegration #EnterpriseIntegration #FioranoESB #Microservices #FioranoCloud #BusinessAutomation #DigitalTransformation #FioranoMessaging #FioranoSolutions #FIA #FIAEvents #RiskManagement #FinancialMarkets #ISO20022 #FinancialMessaging #PaymentStandards #BankingStandards #DigitalPayments #PaymentInnovation #Fintech #PaymentInfrastructure #CrossBorderPayments #BankingIntegration #ISO20022Migration

Mastering the Transition to ISO 20022: Strategies for Compliance and Automated Testing in Financial Services The future of #financialservices is here, & #compliance is key. Our latest #research paper offers a comprehensive guide to help institutions navigate the complexities of this global #financialmessaging standard. From the evolution of #testing to the transformative benefits of #automation, this Finextra report, in association with UNIFITS GmbH provides actionable #insights to ensure operational #resilience, #efficiency, & a competitive edge. Stay ahead of the curve by adopting industry-specific, automated solutions that streamline compliance & future-proof your organization for what's next ➡️ https://bit.ly/4d6J43s #fintech #ISO20022 #finance #money #payments #banking #banks #financialservices #financialinstitutions #standards #regulation #compliance #technology #innovation #future #trends #digitalpayments #instantpayments #realtimepayments #crossborderpayments #internationalpayments #commercialbanking #cashmanagement #internationaltrade #tradefinance #RTGS #settlement #reconciliation #liquidity #PSD3 #CBPR #MiCA #SEPA

Mastering the Transition to ISO 20022: Strategies for Compliance and Automated Testing in Financial Services The future of #financialservices is here, & #compliance is key. Our latest #research paper offers a comprehensive guide to help institutions navigate the complexities of this global #financialmessaging standard. From the evolution of #testing to the transformative benefits of #automation, this Finextra report, in association with UNIFITS GmbH provides actionable #insights to ensure operational #resilience, #efficiency, & a competitive edge. Stay ahead of the curve by adopting industry-specific, automated solutions that streamline compliance & future-proof your organization for what's next ➡️ https://bit.ly/4d6J43s #fintech #ISO20022 #finance #money #payments #banking #banks #financialservices #financialinstitutions #standards #regulation #compliance #technology #innovation #future #trends #digitalpayments #instantpayments #realtimepayments #crossborderpayments #internationalpayments #commercialbanking #cashmanagement #internationaltrade #tradefinance #RTGS #settlement #reconciliation #liquidity #PSD3 #CBPR #MiCA #SEPA