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The road to compliance

At EBAday 2024, Paul Thomalla, Non Executive Director, Unifits, discusses ISO 20022 and the decades-long journey to reach adoption and implementation. The payments sector is a complex world and with ISO 20022 and other mandates emerging, there is an unavoidable tsunami of change constantly hitting banks. As a result, being and remaining compliant is no easy feat and in order to remedy these issues, ISO 20022 must be considered a business-led tool and testing should occur by employees that understand how technology processes should be operating as well as the business nuances of what the rules have set out. But while testing is of course important, getting compliant and staying evergreen is key.

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