Published: December 5, 2018
Insights into the benefits of payments modernization.
Findings from a new case study detail a global payments provider’s advances in its payments modernization journey.
The findings speak to the company’s projected return on investment from modernization and lessons learned. This includes productivity savings in relation to the adoption of ISO 20022, which the organization has already adopted in other jurisdictions. The case study reveals innovated opportunities stemming from increased data richness and availability, including value-add analytics services for its clients. Business applications for real-time payments, the impact of the third batch interbank exchange window to clients, and the organization’s operating model are also examined.
This is the first out of a series of case studies, in collaboration between Payments Canada and EY, that focus on identifying how Canadian businesses, governments and other organizations can benefit from modernized payments.
Payments Modernization and ISO 20022
To learn more about Payments Canada’s Modernization initiative, visit modernization.payments.ca
ISO 20022 is the foundation for payment messaging across all modernized payments systems.The transition to ISO 20022 will support interoperability with global payment ecosystems, and will also enable new opportunities for financial products and services, and bring new levels of efficiency to the Canadian economy. Financial Institutions looking for resources or services to support their adoption of the standard should visit the Payments Canada ISO 20022 Resource Centre.
Want to share your experience?
If you would like to share your organization’s ISO 20022 journey, we want to hear from you: firstname.lastname@example.org