ISO 20022 The New Language of Global Payments: Playbook for Corporate Treasury

By 2025, 80% of the domestic high value clearing (RTGS) volumes will be ISO 20022—based with all reserve currencies either live or having declared a live date, as Swift are currently estimating. Furthermore, we are now witnessing the digital transformation of cross border payments through the migration to the ISO 20022 global messaging standard across the Swift network. Combine these initiatives and it becomes clear on why ISO 20022 XML is becoming the global language of payments.

This change will have wide-ranging impacts across messaging standards, operational models, market infrastructure and payments capabilities. It is critical to address the challenges faced by the payments industry in a more demanding, globalised, and heavily regulated world.

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