ISO20022 supported !

February 4, 2022



A single language for the payment flows worldwide ? ISO20022.
Now supported by Swiftflow.

The year 2022 will be crucial for banks, at a decisive moment to interconnect networks and countries transparently.

Following some major payment systems already fully migrated like CIPS (China) or NG-RTGS (India), many others will migrate to ISO20002 in the months and years to come, including SWIFT (Global), Fedwire/CHIPS (USA) and Target2/Euro1 (Europe), as shown in the figure [1,2].

According to SWIFT [3], the usage of ISO20022 will ultimately represent 79% of the world’s total high-value payment volume of settled payments today and respectively 87% in terms of value.

While generally supporting more structured and richer entity fields (e.g. creditor or debtor), many dialects of the standard will be used and with them various ways of populating those fields.

In short – Various structures, various data coverages.

➔ Challenges ahead for machine learning and processing
➔ Promise of ISO20022 not fully leveraged

Our data pipeline Swiftflow offers following features:

– Auto-detect if a raw message is MT or ISO20022
– Extract all address fields in the message
– Geolocate and complete those address fields (!)
– Return a ISO20022 message (or enriched JSON)

For any entity field present in the message, Swiftflow will find it, geolocate it, complete its address, and possibly enrich it with geo-coordinates, all this on the cloud or on-premise…

Example (case unstructured input)

In:

<PstlAdr>
<AdrLine>Pfingstweidstrasse 6</AdrLine>
</PstlAdr>

Out:

<PstlAdr>
<StrtNm>Pfingstweidstrasse</StrtNm>
<BldgNb>6</BldgNb>
<PstCd>8005</PstCd>
<TwnNm>Zürich</TwnNm>
<CtrySubDvsn>Zürich</CtrySubDvsn>
<Ctry>CH</Ctry>
</PstlAdr>

Do you see the point ?
Do you see the potential ?

Let’s discuss your impact together. 

Reach out to us: [email protected]
Check our website: alpina-analytics.com

Sources: 

[1] https://www.compact.nl/en/articles/the-industry-challenge-towards-iso-20022-as-a-global-payments-standard/
[2] https://www.theasianbanker.com/updates-and-articles/feature-iso-20022-adoption-will-drive-100-stp-in-the-payments-ecosystem
[3] https://www.swift.com/resource/iso-20022-migration-study