The ITSM Practice: Elevating ITSM and IT Security Knowledge10 Jun 2025

ISO 20022 Explained: Global Payments, Compliance Risks & Transformation Strategies

ISO 20022 is reshaping global payments with rich, structured data, offering enhanced compliance, operational efficiency, and new revenue possibilities. As the 2025 deadline nears, financial institutions must modernize systems, reduce risks, and unlock powerful analytics. Ready or not, change is here.

In this episode, we answer to:

What happens if you’re not ISO 20022-compliant by November 2025?

How does ISO 20022 improve payment data quality and analytics?

What are the key phases to successfully transition your systems?

Resources Mentioned in this Episode:

StoneX website, article "STS – ISO 20022: A Global Shift in Cross-Border Payments", link https://www.stonex.com/en/thought-leadership/02-03-2025-sts-iso-20022/

SWIFT website, article "ISO 20022 for Financial Institutions: Focus on Payments Instructions", link https://www.swift.com/standards/iso-20022/iso-20022-financial-institutions-focus-payments-instructions

S&P Global Market Intelligence website, article "ISO 20022 Adoption Poses Challenges and Presents Opportunities", link https://www.spglobal.com/market-intelligence/en/news-insights/research/iso-20022-adoption-poses-challenges-and-presents-opportunities

Ernst & Young website, article "Nine Considerations for ISO 20022 Migration", link https://www.ey.com/en_gl/insights/banking-capital-markets/nine-considerations-for-iso-20022-migration

Connect with me on:

LinkedIn: https://www.linkedin.com/in/theitsmpractice/

Website: http://www.theitsmpractice.com

And if you want more tips and guidance, follow me on LinkedIn. I am sharing daily posts regarding Enterprise Service Management, IT Service Management, and IT Security.

Credits:

Sound engineering by Alan Southgate - http://alsouthgate.co.uk/

Graphics by Yulia Kolodyazhnaya

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