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Kani Payments , the disruptive global data reconciliation and reporting pioneer, today announces it is ready to support the ISO20022 global messaging standard ahead of the November 2025 implementation date.
PYMNTS recently spoke with Saqib Sheikh, global head of SWIFT’s ISO20022 program, to learn more about SWIFT’s commitment to assist the financial community in the transition to the new standard in cross-border payments: ISO20022. Richer Data With A Little Help From Our Friends .
In today’s digital age, however, speedy transactions depend on payment rails that support rapid settlement and messaging standards that enable sending and quickly processing comprehensive payment details. . Deep Data For Swift, Secure Payments . High-value payment systems operated by the U.S.
Further, one of the largest benefits to corporates of faster and real-time payments services is less about the speed and more about the data these networks are able to carry along with a transaction. The world is moving more toward standards, and ISO is one of them,” said Halpin. The Community Approach to Ubiquity.
When analysts from SWIFT and its ISO20022 Registration Authority took a look at the various efforts behind adoption of the global messaging standard in 2014, a report found that while implementation projects were on their way across Europe, Russia and Africa, among the laggards were the U.S. in its faster payments initiatives.
There are barriers to progress, though, with most businesses saying that a lack of standard remittance information is the biggest challenge to adoption of electronic payments information.
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