ISO 20022

ISO 20022 is the international standard for financial messages, issued by the the International Organization for Standardization (ISO).

The introduction of ISO 20022

"The new standard will significantly increase the amount of data that will be able to accompany the payment instruction.

One of the main benefits will be an increase in the ability to automate the allocation of receipts to customer accounts – reducing the time consuming, expensive and error-prone need for manual intervention.

In addition, it will allow more information regarding ultimate beneficiaries which will support any requirements for enhanced anti-money laundering protocols."

Association of Corporate Treasurers - blog - April 2022.

See also

• ISO
• ISO currency codes
• MT
• MX
• Payments Market Practice Group (PMPG)
• Society for Worldwide Interbank Financial Telecommunications (SWIFT)

External link

• ISO 20022 website