Flexible framework for financial communications can enable faster onboarding, higher STP rate for automated processing and reconciliation of payments, and improve interoperability
Warren Davey, Executive Vice President of GTreasury, and Mike Lewis, Regional Sales Manager of SWIFT will co-host this breakout session on ISO 20022, the universal financial industry message scheme, which defines the ISO platform for the development of financial message standards.
First focused on international (cross-border) financial communication between financial institutions, the open and flexible ISO 20022 also serves as a common standard for developing domestic financial messages. It enables the streamlining of all communications for financial institutions and delivers solid benefits that include:
- Reduced time and effort to design new business flows and new messages because it has reduced all people in design to speak the same business language.
- Testing tools that accelerate customer onboarding, enabling corporations to implement their systems and join new banking partners in days or weeks, rather than in months.
- Higher STP rate for the automated processing of payments, the automated reconciliation of payments and invoices, the reduction of manual exceptions and the harmonization of diverse payment processes.
- Rich data sets that allow users to be agile and responsive in innovating and providing new services.
GTreasury will also exhibit at the conference in Booth #400. Those who are unable to attend the conference and wish to learn more about GTreasury solutions may click here for more information.
Originated in 1986, GTreasury is the global leader of treasury management solutions for organizations spanning the world. GTreasury’s solution illuminates a treasury’s liquidity by centralizing all incoming and outgoing banking activities, along with tracking all financial instrument activities. This gives GTreasury practitioners real-time insight and access into their global liquidity. GTreasury is the only company that offers both an installed and a SaaS solution. Our modular platform and infrastructure allow any size treasury operation the ability to customize a solution that is best suited to their needs.