Broadridge Financial Solutions has delivered full ISO 20022 cash processing capabilities for its global bank and broker/dealer clients. The fintech firm reveals in a press release that the delivery was timed in anticipation of the upcoming Swift Standard Release in November this year.
The ISO 20022 messaging standard allows for more structured and detailed business information to provide better flexibility and transparency in financial transactions. Swift plans to discontinue the processing of ISO 15022 payment messaging formats when ISO 20022 is in place in November 2025.
Describing ISO 20022 as “a springboard for growth”, Danny Green, head of international post-trade solutions at Broadridge says that by delivering full capabilities for the standard ahead of the November deadline, the firm is de-risking the transition for its clients and minimising their cost to implement. Broadridge also claims that its implementation strategy has focused on “creating a foundation for future enhancements, ensuring clients are positioned for potential future expansions of the ISO 20022 standard”.
