Global Tier 1 Bank – ISO20022

Deep payments expertise with technology and regulatory knowledge to support clients on all UK and EU schemes, cards, and API payments programmes.

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Case Study: Global Tier 1 Bank – ISO20022

Context:

A global Tier 1 Bank relied on legacy MT message formats for high-value, cross-border, and some domestic payments. Regulatory initiatives required this client to adopt ISO 20022 as the new payments messaging standard.

Client Challenges:

  • Legacy architecture with MT messages embedded across multiple systems, making identification of all impacts complex
  • Heavy reliance on message translation layers, increasing operational risk during coexistence and adding to complexity of impact analysis

Solution:

  • Thematic, logical approach taken to impact assessment, identifying all MTx uses across the payments estate
  • Identification of MT truncation and loss issues, mitigated by introducing changes to the translation layers

Outcomes:

  • Fully documented map of MTx usage across the payments estate in terms of systems and processes, with rules defined to mitigate risk of truncation or loss in translation and inputs made to new payments data model
  • Clear development roadmap provided for programme to take into delivery and implementation
  • Valuable data references provided for use during co-existence and switchover