2079325 ISO 20022 Citi Mini Series and Reference Guide Part

ISO 20022: Citi Mini Series & Reference Guide  | 22 New Business Innovations Richness of data in ISO makes it a natural fit for machine learning and AI, this enables ISO 20022 to facilitate digital innovations as standards enable easier and faster development of digital services, e.g. instant cash reporting APIs. Corporates can make real-time, data-driven treasury decisions and focus on business opportunities and innovations for sustainable growth. Cost Optimization Through Automation The exchange of enriched, structured ISO 20022 data will help to increase STP rates, and reduce friction and false positives. It also facilitates automated reconciliation and issue resolution, thereby enabling cost optimization. Enhanced Customer Experience Real time and rich ISO 20022 data provides increased opportunities to better understand and serve customers. It brings the ability to improve communication, predict customer requirements and interact more efficiently. Regulatory Compliance Richer and better quality information suited to the needs of regulators, such as party and agent identification and regulatory reporting, being consistently transported through the payment chain, will make automated screening more efficient and can improve the accuracy of KYC, and AML/CFT compliance.