This post was originally published on Fin Extra
How are banking leaders successfully embracing faster payments and reducing friction and fraud for customers – alongside a growing list of transaction rails and new regulations – in today’s domestic and global financial markets? Why pre-validation, speed, and scale are all critical to lowering costs and raising operational security and resilience in pursuit of G20 Cross-Border Payments Initiative goals. How close is the industry to achieving these 2027/2030 targets, and what’s standing in the way?
Industry events and mandates are aligning with expanded regulatory oversight across the European financial arena. Initiatives such as SEPA Inst, VoP, SIC IP, BAV, and New Payments Vision payments verification and account validation present both challenges and opportunities. How can institutions best prepare for the impacts and prospects they’ll bring? ISO 20022 is already improving operational efficiency and security across many financial institutions and clearing systems. What are the use cases that will accelerate its broader adoption and prove the worth of its simpler, more powerful standards and syntax for banks and their corporate clients in the global marketplace? No matter what the rail or channel, country or currency involved, how can financial institutions, technology providers, and customers collaborate most effectively to combat
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