Regulatory Alerts2010-09-09
ISO 20022 for Dummies
SWIFT, in collaboration with ISO/TC 68, issued this guide to standardize financial messaging across banking, securities, and payments. It mandates a three-layer architecture that decouples business concepts from logical messages and XML syntax, directly addressing industry-wide syntax and semantic fragmentation. The resulting unified data dictionary enables end-to-end automation, straight-through processing, and seamless global interoperability for financial institutions.
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