ISO 20022 — Front-to-back-to-front April 12, 2024 For decades, the banking sector has been divided into two distinct realms: the glamorous front office, where savvy relationship managers woo clients and close deals, and the enigmatic back office, a complex labyrinth of data processing and business operations aimed at running the bank efficiently and with minimal risk. Traditionally, […]
Read MoreISO 20022 — Road to (data) riches March 15, 2024 Current context In March 2024, the entire SEPA (Single European Payment Area) is undergoing a significant upgrade, migrating from ISO 20022 version V02 to version V09. This updated standard is in line with the one getting adopted by Swift for cross-border payments, whose migration to ISO 20022 started […]
Read More5 reasons why you should adopt ISO 20022 now January 23, 2024 Spot on comments.. “Those that find the right formula for ‘refining’ the data will be the winners.” “Our ability to interrogate ISO 20022’s rich and structured data will streamline identifying these customers. It will revolutionise how we understand customer needs and enhance our […]
Read MoreISO 20022 — Address structuration January 02, 2024 A solved issue ? We observe that both state-of-the-art large language models (LLMs) such as GPT-4 and specialized packages combining machine learning (ML) and natural language processing (NLP) like Libpostal deliver quality results. Nevertheless, expanding the present evaluation to include additional real-life test data from financial institutions, validated with geocoding, […]
Read MoreISO 20022 — Navigating rich semantics December 13, 2023 Rich means complex Our recent article ISO 20022 — An enabler for AI (and BI) discussed the potential of ISO 20022 as a strategic data asset. We acknowledged the challenges posed by its complex structure and granular content, and we explored the essential components of a data pipeline designed to take […]
Read MoreISO 20022 : Widening the lens November 21, 2023 Industry collaboration in the fight against financial crime “There is space for more collaboration, which is legally permissible.” “Put all your efforts to structure your data and to share them with all others in the chain.” “What we are talking about here is the clarity in […]
Read MoreISO 20022 : Embracing ISO 20022 October 30, 2023 Assessing opportunities and overcoming challenges for solution providers “We are living in a data society where everything is about data, and banks have absolutely the richest data passing through their systems, day in and day out. Entire economies pass through the banks.” “ISO can be the […]
Read MoreISO 20022 : A view from the top October 29, 2023 “At the heart of empowering AI, is really around structured data.” “There’s going to be second and third derivative benefits of ISO, speaking the same language and that same standard in terms of the business intelligence, the insights, and then the automation as a […]
Read MoreISO 20022 : A springboard for innovation October 27, 2023 Example – cross-business use cases with AI… “Can we use that element in the Payment message to do something better in the Securities message ?” “We want an AI to say: are you talking about the same thing [e.g. a credit account vs. a settlement […]
Read MoreISO 20022 — An enabler for AI (and BI) October 20, 2023 Part 1 — Setting the Stage In the world of finance, data is the lifeblood. It fuels decisions, drives innovations, and secures the flow of money. Amid this data-driven landscape, ISO 20022 emerges as the universal language for financial messaging. It doesn’t just provide a standardized syntax, […]
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