Not all processes are created equal and with international business, just like with languages, processes and terminology can be misunderstood or misaligned. The ISO 20022 standard offers a single approach for methodologies, processes, and repositories to be used by all financial institutions to standardize their data interchange on an international scale to realize end-to-end processing across domains and geographies.
When considering ISO 20022 implementation, it shouldn’t be seen as merely conforming to a standard. It provides a global dictionary of common language that everyone can understand, meaning information can be processed worldwide and dramtically improve your global business processes. With clearly and consistently understood data, it is easier than ever to communicate financial information between people and systems.
Erste Group implemented Accurity Glossary to create a solution to catalog and map their payment processes including data used by each process. It included 89 payment related processes with between 10 and 100 steps per process.
ISO 20022 streamlines communication for payments, securities, funds, foreign exchange trading, and credit sectors
Common understanding leads to effective communication and makes doing business a lot easier and far less risky.
With Accurity Glossary, you can get a consolidated view of processes and data in an understandable and easy-to-share way
Using Accurity Glossary to meet ISO 20022 standards, inefficiencies in manual analysis of processes and data prior to IT projects are dramatically reduced.
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I am satisfied with Accurity Glossary. It is something new, which has a vision on how to put together all relevant information. I like working with it and would recommend it.