Welcome

Beyond Payments: How are FSIs and Corporates preparing for the transition to ISO20022 and leveraging the business advantages of payments modernisation? 

Sponsored by OpenText
Tuesday 29th March 2022
1 Lombard Street, London, EC3V 9AA

As high value payments systems across Europe begin mandating adoption of SWIFT’s ISO20022 standard by November 2022, corporate clients are being pulled along faster than their own 2025 deadline, when key messages in cross-border and cash reporting payments will be decommissioned. As a result, the race is on for FSIs to migrate or risk losing out on the early mover advantage.

But while standardisation of payments data and compliance are clear drivers, many FSIs and corporates have been slow to realise the more strategic advantages. For many, the delay is not an active choice: while some face interoperability challenges due to legacy infrastructure, others are being held back by cost and productivity concerns, as senior leaders worry about the impact on existing IT roadmaps. As the deadline draws nearer, many are also concerned about the risk to interoperability and payments alignment with corporate clients.

To tackle these challenges many FSIs are exploring the potential of new technologies and managed services to help them overcome key roadblocks to payments modernisation.

This roundtable event will bring together senior industry peers across the ecosystem from FSIs to Corporate Clients to assess the key pain points and opportunities for FSIs as they look to prepare systems, staff and corporate partners for the shift to ISO20022.  

Topics for discussion:

• How advanced are banks in supporting corporate clients and suppliers in the transition to ISO20022 - is there a perception they are doing this well and where are the opportunities to do better?

• What are the strategic benefits of ISO 20022 and payments modernisation for FIs and corporates and what are the key changes that must be made to infrastructure,  messaging and interoperability?

• What strategies and technologies are FSIs using to improve payments ecosystem and supply chain visibility with ISO 20022?

• What are the key steps FS organisations can take to help normalise data exchange between systems and clients which are and aren’t ISO-ready?

• How is ISO20022 paving the way for embedding payments, financing and key banking services within corporate business processes?

• Beyond compliance, what are the main business advantages of ISO20022 and how can FSIs use it to drive efficiencies which can benefit corporates?

• How are payments and technology leaders at FSIs approaching the ISO20022 transition without impacting their existing IT roadmap?

• How can FSIs leverage payments modernisation to support corporates with their ESG initiatives?

Timings for the evening:

18:00 – 18:30        Welcome and refreshments 
18:30 – 20:00        Introduction to fellow guests and roundtable discussion 
20:00 onwards     Complimentary three-course dinner

Brought to you by FStech