Fast Track your ISO 20022 Migration Journey with Virtusa

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By November 2022, ISO 20022 will be the European standard for high-value payments systems of all reserve currencies, and by 2025 it will support 80 percent of transaction volumes and 87 percent of transaction value worldwide. In the absence of the right strategy, approach and technology, ISO 20022 adoption can be risky, expensive and complex for financial organisations.

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Virtusa empowers enterprises to fully leverage the opportunities presented by ISO20022 while being fully compliant within the prescribed timelines.

We help organisations quickly identify and prioritize opportunities through our unique capabilities:

  • Three decades of experience across the payments landscape including deep expertise in implementing ISO based schemes like SEPA, NPP and G3 across the globe
  • UX and API related changes on relevant channels to cater to enhanced data-rich formats and related message transformation/truncations
  • Specialised payment sandbox and AI based validation tools for ensuring that the ISO20022 message generation is both structurally and contextually valid
  • Upgrading SWIFT connectivity and infrastructure (SAA/AMH/SAG/SNL) for ISO20022 and migrating to cloud to cater the 100 fold increase in operation databases
  • Migrating templates and process within E&I applications like Pega Smart Investigate to comply with ISO20022

Our successful implementations have enabled:

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A large UK bank implement a sleek new customer journey and upgrade their channels to capture additional information needed for ISO20022 formats

20% faster migration of the templates within Pega Smart investigate for a large UK based global bank

Entire payment hub movement to a more modern, ISO20022-based microservices architecture for a large global bank based in Singapore

Payment Sandbox implementation and ISO20022 message validator for corporates and correspondent banks to self-onboard for a large US based bank

Find out what Virtusa can do for you

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