ISO 20022: Survival Guide

11 | Treasury and Trade Solutions Learn more about benefits that ISO 20022 will bring by reading: ISO 20022, a better data model white paper , created in collaboration with SWIFT. Dedicated Elements Utilizing end to end references the MX message structure is more dynamic, allowing for an enhanced data model with dedicated, structured elements for specific information. • Having dedicated elements makes it easier to understand • This will help improve interoperability and improve ease of the message exchange across regions Improvements over MT message structure Element Hierarchy MX messages have element hierarchy with nested elements for logical grouping of data • For example, using Creditor it can include Name of creditor, Address of the creditor, then under address you can have further structured elements for street name and zip code • This will help with straight through processing of data and increase automation abilities resulting in faster speeds and lower costs for our clients in the long run M Struc