The LEGO® metaphor is highly applicable to financial services and the ISO 20022 journey. From technical building blocks or developers' coded core transaction systems, we enter a world of solutions built with solution design patterns of assembled components. Low cost, hosted API accessed components that can accelerate the path to business solutions - out of the box and as part of a "BANKLand" topology which responds rapidly to a digital, data centric age of global financial services.
With over 100 man years of experience in the founding team and a range of partnerships - The 20022 Consultancy can take you safely through the ISO 20022 migration journey. From evaluation of current state, development of the strategy and implementation of tactics to ensure compliance and seamless, enhanced ongoing operations.
Are you ready?
Reach out - we can help if you are behind schedule, offer new ideas and set a vision of the possible.
"it's all about Data" - However one looks at the challenge, front, middle or back office - trading, risk or settlement - DATA is the lubricating oil that enables global financial services. Core transaction systems generate it, communication between counterparties will use the richness of ISO 20022´s extended fields to create complex messages. These will enable automation along an STP optimised value chain with efficiency gains from eliminating false positives in anomaly checking, through wider compliance and KYC. 20022 will multiply the data asset x10.
Get it right, now, from the beginning!
1973 saw the founding of SWIFT - the first step in the automation of centuries of old paper based processes. These were reliable and worked well, but with potential for improvement as IT took hold. ISO 20022 now brings financial messaging and data up to date with the digital world, opening up horizons of enhanced business processes, and realising automation across the transaction value chain.
Legacy systems, at the core of operations have received decades of investment, must be protected, but now harnessed and integrated into the data flows that will reach new processing environments that enable enhanced KYC, AML and other risks to be analysed. Deepen CRM to enhance customer affinity and experiences; and where feasible augment with AI to eliminate the overhead of standard repetitive reporting and messaging in an increasingly enabled STP environment of automation.
The 20022 Consultancy has experts who know these possibilities. Whether in house build or buy externally, managing and leveraging the experience of vendors; we understand the techniques, intricacies and subtleties of successful technology enabled programmes in this space.
As independent advisors, our market vantage point is valuable - we embrace and thrive on evolution - it's our DNA!
