Technical Committee 68 of the International Organisation for Standardisation (ISO) for financial services standardisation created a common standard,  ISO 20022, around two decades ago. This development was transformational. It was… read more →

The sometimes-termed ‘Olympics of banking’ saw the biggest names in banking give speeches and panels over four days covering new developments in the industry, innovation, and emerging themes for the… read more →

The project was conducted with participating banks including Lloyds, Emirates NBD Bank, and Federal Bank Limited. It tested the transmission of electronic trade documents between Swift member banks and WaveBL’s… read more →

Discover how ISO 20022 can reshape the world of trade finance and what banks need to do to prepare for a global adoption.

The Bankers Association for Finance and Trade (BAFT), a global industry association for international transaction banking, has released a whitepaper, “ISO 20022 Migration: Lessons Learned”, highlighting some of the critical lessons its members have learned while implementing this ‘new language of payments’.

2024 is set to bring about significant changes in finance and banking. Driven by a convergence of cutting-edge technologies, the industry-wide transition to ISO 20022, the rise of digital currencies, and innovative AI-powered solutions, the year holds promise for considerable advancements and enhanced alignment between fintech and traditional financial institutions. 

In order to communicate with each other, banks use a messaging system called SWIFT (Society for Worldwide Interbank Financial Telecommunication), which provides a standardized and secure way to exchange information. There are several different types of SWIFT messages that banks use for various purposes.

In a collaborative effort with BNY Mellon, Deutsche Bank, and four electronic Bills of Lading (eBL) platforms, Swift has successfully trialled an interoperability solution.

The ISO 20022 format is a set of data and messaging that is integrated into an instant payment or any other cross-border transaction. 

At the 49th Annual Trade and Forfaiting Conference held at ITFA Abu Dhabi, TFG’s Deepesh Patel spoke with Sean Edwards, Chairman of the International Trade and Forfaiting Association (ITFA), about some of the key themes emerging throughout the conference in a quickfire session.