2079325 ISO 20022 Citi Mini Series and Reference Guide Part

7 | Treasury and Trade Solutions Pain Messages: Why Pain Messages are better than MT equivalents: Universal Standards For an international corporation, being able to use the same format in any country you do business in, and being able to have your supplier take information from you and send information to your suppliers without worrying about data lost in translation or misunderstood — all of that is a major benefit ISO 20022 is also an attractive standard for corporates because it is bank agnostic. With it, companies can engage with all of their banks in a more consistent manner. As institutions continue to adopt ISO20022, the ability to connect domestic and regional payment systems will only increase, facilitating the connectivity of financial market infrastructures. End to End Tracking ISO 20022 uses new and expanded identifiers to track payments end-to-end. gpi tracker and other value-added services able to extract data from ISO 20022 messages Dedicated Elements The dedicated element structure of the ISO 20022 message format allows instructions for specific business data elements, creating a dynamic and enhanced data model. Compared to an MT format where the felid is referenced as a number and letter for each line, MX elements describe the content of each message item. These structured elements facilitate interoperability and make it easier to exchange messages between regions. Standards Data Structure