2079325 ISO 20022 Citi Mini Series and Reference Guide Part

19 | Treasury and Trade Solutions Secondary Benefits: The operational improvements included in the ISO 20022 migration will greatly enhance the end to end By providing more detailed data about all parties involved in a payment, the new message format speeds up payments and increases transparency. The failure of payments due to repair across is a key pain point in the current system. It results in potentially lengthy payments delays for end users and can contribute to the cost of payments processing for banks, impacting overall client experience. With wider adoption of ISO, we would expect the overall exceptions to decrease. But we might still have them and Management of exceptions, alerts and investigations is extremely labor intensive for a financial institution because it can hinder increased automation. Fraud Reduction Payment Repairs Investigations