The 101 on ISO20022: Frictionless Data Collection Directly From the Source

Sanjeev and Navneet give us the ‘101’ run-down on the importance of data collection and management as it relates to our day-to-day business and work decisions, as well as to our personal lives. They highlight the importance of collecting data straight from the source, keeping it un-adulterated and untouched, and how delivering it in its original form is critical for the overall success of payment processing to ensure payments have a frictionless journey. This educational episode also touches on various updates and changes to the ISO20022 financial messaging standard that you don’t want to miss!  

ISO 20022 is a flexible, standard format for the exchange of financial messages globally. It allows for richer, structured transaction data that can be used for every kind of financial business transaction. It enables interoperability between financial institutions and end customers by providing common rules and messaging language for the industry when exchanging information.

Note: The opinions expressed on FX in Focus News & Views are those of the speakers only, and do not necessarily reflect the views of Corpay or FLEETCOR Technologies Inc.