ISO 20022: Survival Guide

5 | Treasury and Trade Solutions A Global & Open Financial messaging standard… ISO 20022 is the globally agreed methodology used by the financial industry to create consistent message standards across all the business processes of the industry. The ISO 20022 method is based on the concept of separate layers. We distinguish three layers: What is ISO 20022? What makes it so great? • Develops well structured messages and unifies many existing standards to enhance customer service • Allows for enriched data sets and greater structure vs todays MT message types to promote E2E automation • Enables faster processing, improved reconciliation and greater openness and interoperability The middle layer provides logical messages or message models The bottom layer deals with syntax. The top layer provides the key business processes and concepts