<ul><li>Banks are transitioning to the ISO 20022 financial messaging standard for standardized data formats and exchanges in financial services.</li><li>The shift to ISO 20022 has challenges as legacy messaging formats need to be transitioned and batch processes must be moved to real-time status.</li><li>Several upcoming deadlines require banks to be ISO 20022-compliant, but only about 27% of banks are currently fully compliant.</li><li>The coexistence period between legacy messaging and ISO 20022 will end in November 2025, pushing banks to adopt the new standard.</li></ul>

From Legacy to Leading Edge: Banks Struggle with ISO 20022 Transition

Discover more