ISO 20022 Capabilities
The ISO 20022 XML standard is rapidly revolutionizing the way corporations integrate their core treasury, payable and receivable applications with banks' systems. ISO 20022 is:
- Increasingly supported by banks and financial application providers globally
- The next generation messaging standard for SWIFT
- A standard used by an increasing number of payment systems globally.
Corporate clients may use ISO 20022 to integrate core treasury, payable and receivable applications with their suppliers, buyers, and banking partners.
J.P. Morgan's ISO 20022 payment initiation and reporting capabilities deliver key benefits, such as:
- Improved straight-through processing (STP), allowing clients to communicate consistently across all of their banks
- Standardized access to the global payments landscape, incorporating new services such as Single Euro Payments Area (SEPA) in Europe
- Remittance information and pertinent commercial data captured along with payment information, creating efficiencies in reconciliation
- Critical intraday payment information, rather than only end-of-day, enabling improved cash positioning and reconciliation
To learn how to realize ISO 20022's rewards through improved interoperability and STP contact:
Europe, Middle East and Africa