The global payments industry is moving to a single messaging standard ISO 20022. For decades, formats supporting high value and cross-border payments have become uncertain. The ISO 20022 brings the common business terminology across all payment types and most banks will have already started their journey as they migrate to the new messaging standard of ISO 20022. SWIFT has convened for CBPR+ the international payments experts’ group, that it will formulate guidelines for the harmonized rollout and implementation of ISO 20022 for cross-border payments. There are a subsequent set of release on usage guidelines for updated user detailed functional specifications (UDFS) for the Euro system. For banks, the implementation of the new standard represents a global mandate with near-term deadlines. Temenos Payments Hub (TPH) is a universal payments hub solution which has sophisticated centralized infrastructure to support any future payment formats and global payment mechanisms. TPH provides banks with a single solution to configure their payment processing for all customers.
In this webinar, we have discussed the following in detail
- Global payments latest development and global requirements
- Implication and recommendation for Banks
- TPH- The Next generation payments Overview
- Deployment Modes of TPH
- TPH Parameterization
- Unmatched Benefits
The benefits of ISO 20022 are loud and clear, customers can expect superior customer experience, more streamlined compliance procedures, and the ability to deliver new services. It will be the global language for financial messaging. View our webinar to get more insights on how you can leverage TPH to calm the storm of IS0 20022.