The changing world of payments through standardization
ISO 20022 is the new international standard for electronic data exchanges in the financial industry. It is assuming an increasingly key role worldwide, particularly in Europe and therefore in Switzerland.
The Swiss financial center is also introducing this beneficial standard, and also taking the opportunity to harmonize payments and to align with the Swiss ISO 20022 payments standard. This is not just SEPA-conforming, in terms of euro payments, but accommodates all domestic and foreign payment transactions.
Standardized and thus less expensive procedures and new technologies enable the players in Swiss payment traffic to remain competitive and to more efficiently implement the increasing regulatory requirements
The new payment traffic delivers clarity, efficiency & security
Attaining the goal in stages
ISO 20022 – The new international standard for Swiss payments
Readiness – It depends on the software!
List of business software partners in the Swiss financial center that offer ISO 20022 message types.