Adopting standards for electronic data interchange between financial institutions
With SWIFT’s plans to fully adopt the common electronic data interchange platform underway, what are the implications of the ISO20022 standard on the wider financial industry? Rishi Tinaikar, business innovation lead in Asia Pacific at SWIFT, joins Jamie Bulgin, relationship director within OMFIF’s Institute for Economic and Monetary Policy, to consider why adoption is important, some of the likely innovation possibilities the standard provides as well as the broader impact on banks and other financial institutions.