Payments Transformation

ISO 20022 – Enabling Your Payments Transformation

ISO 20022 has been developed as a uniform and universal standard payments protocol to counter the problem of the existing unstandardized and uncharacterized way of formatting exchanges of financial and payment messages between countries, customers and banks. Implementation creates global interoperability and improved customer experiences by realizing end-to-end processing across domains and geographies. Globally, financial institutions must execute ISO 20022 compliancy by the end of November 2022 within the EU, and by the end of November 2023 in the US.

Expert conversation with Devesh Darshan,
Head of FS&I Consulting, Atos, UK&I and Eddy Claessens,
Global Head of Banking & Payments, FS&I, Atos

How can Atos help in this quest for knowledge?

By introducing ISO 20022, Atos does not want to make your organization just compliant. Moreover, Atos will help you realize the best possible outcomes of this new standard in technology, processes, and people.
While others might be focused on only supporting your tactical developments to compliancy, Atos specializes in end-to-end guidance to unlock the true value – offering the perfect balance of assets and expertise to shift you from a tactical to a more strategic and holistic change for ISO 20022.
We help you to …

Create your payment transformation journey

Design your target operating model, in line with your journeys and objectives

Enable a smooth execution and thorough delivery

Our value proposition goes beyond simply offering consulting services to customers, it empowers you to explore your situation, draw a plan, assess your next steps and execute to gain an advantage.

Why choose Atos for your Payments Transformation?

Atos possesses a broad ecosystem of highly motivated and skilled people, proven tools and a solid partner network to build a strong and dynamic digital payments business. Including:

Proven payments leadership through knowledgeable industry experts

Swift availability of subject matter experts in various knowledge domains such as payment, client experience, digital transformation, and agile development

High flexibility to adapt quickly to evolving requirements, working collaboratively across the bank, adhering to clients´ culture

Meaningful use of accelerators such as Syntbots (in-house Atos tool that automates process modelling) on process documentation and automation, business value frameworks to ensure right value delivery

Wide capabilities and reliable assets in the field of data analytics, application development and management, test automation as well as Fintech engagement

Solution benefits

The new standard opens a world of possibilities for all players in the eco-system. However, data alone will not bring the richness. There’s opportunity for real transformation and taking advantage of better information leading to increased knowledge. By leveraging artificial intelligence and data analytics, new business insights can be gathered to enhance existing products and services as well as the development of new products or services to better meet clients´ needs. Additionally, employees can be redeployed within your business where they will provide better benefit, driving further success.

Financial institutions need to embrace a paradigm shift: believe and act. In banking terms: don’t settle for compliance and see what it will bring. Rather create a vision for payments transformation with ISO 20022 acting as a catalyst for:

Frictionless Cross-Border Payments

Single ISO 20022 payments standard implemented across all regions leads to frictionless cross-border payments.

Automated Payments

Enhanced data and straight-through processing enables automated reconciliation, cash flow forecasting and liquidity management.

Richer Reporting

Centralized data store for all payment transactions allows improved analytics and decision-making.

Fraud Detection

Richer data carried in the payment message make it easier to detect fraud and help prevent financial crime.

Innovative Products & Services

ISO20022 adoption drive innovation through the creation of new products and services, e.g. instant payments and open banking.

Delivery model

Our delivery model contains three steps to drive the change of your payments transformation while introducing ISO20022:

1. Envision

Describe vision and direction for your payments landscape and its transformation
Deploy a right size, highly multi-skilled team bringing in payments, change management, process mapping and data management skills

2. Evaluation & Design

Define portfolio of areas, opportunity backlog, to be targeted with high-level prioritization using industry insight
Develop business cases for the identified opportunities, develop their target operating model and identify possible risks
Establish strong governance including methodology and key business stakeholders

3. Delivery

Launch incremental execution streams with focused squads to deliver agreed backlog initiatives
Make sure that adequate business engagement and leadership is at hand to take key decisions timely