Financial messages invariably include country and payment-type requirements, the analysis and review of which can be both labour-intensive and time-consuming. Through Deutsche Bank´s Autobahn App Market, clients can now directly access SWIFT MyStandards, a tool that significantly streamlines and simplifies the process of receiving structured and consistent documentation around such messages.
The Common Global Implementation-Market Practice (CGI-MP) initiative focuses on defining harmonized implementation guidelines for ISO 20022 XML messages on a global scale with the aim of establishing a bank-agnostic XML standard. But regardless of this initiative, users still have to consider country and payment-type specific requirements for the technical implementation of financial messages in their IT systems.
Clients receive, through multiple channels, the requirements and format guidelines for financial messages from their banks. Country and payment-type requirements and format differences can only be identified after time-consuming analysis. This presents clients with a number of challenges, many of which can potentially delay the onboarding process.
Find out more about Deutsche Bank’s adoption from our latest customer testimonial.
Deutsche Bank Customer Testimonial