ISO 20022 is at the center of payments modernization globally. While banks generally tend to understand the benefits ISO 20022 can deliver, the initiatives driven at most banks are a tactical attempt at establishing a formal checkmark for compliance with the new messaging formats. Meeting the payment rail timelines, standardization of message formats and bank internal priorities continue to take center stage while taking away the focus from the true value ISO can deliver.

Through this whitepaper, Intellect Global Transaction Banking shares its views on how banks can approach ISO 20022 in a manner that not only delivers the end-results through a progressive modernization journey but adds also generates significant value, both to the bank and their clients.

Balakrishnan Narasimhan is a senior domain leader with over 27 years of experience having spent his entire career in the banking domain being both a banker and in the global core banking solutions space. He is a Business, Technology and Operations leader with an extensive background in envisioning and implementing product strategy, delivery and large-scale transformations for the financial services industry for clients in various geographies across Asia, EMEA and the Americas. At Intellect iGTB, Bala leads solution-led consulting activities for clients in the Americas across a variety of solutions, which include Digital Banking, Payments, Cash / Treasury Management, Liquidity Management, Virtual Accounts, Escrow Deposits and Cash Flow Forecasting

Indu Ramanathan is a senior domain expert with over 16 years of experience, and most of her career has been focused in the financial technology domain across various roles, which includes new business development, relationship management, product management, solution implementation and solution consulting. She has extensive knowledge in payments and cash management and has worked closely with many banks across Asia, EMEA and the Americas. She has helped Banks in implementing banking modernization strategies and large-scale transformations right from strategy blue-print to delivery of the program including end-client outreach

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