The strategic advantage for banks
MyStandards offers banks an efficient way to document their message formats across payment types and markets. Now your corporate customers can access and compare requirements easily, improving the onboarding experience and timescales.
The strategic advantage for Transaction Banks
Global financial standards have transformed payments and cash management, and significantly improved interoperability. Still, there remain many important variations in practice across markets and financial institutions – for example, ISO 20022 guidelines for host-to-host channels.
MyStandards offers Transaction Banks an efficient way to manage, publish and share message formats across channels, payment types and markets.
Thanks to a self-service web platform that is available 24/7, global teams need not worry about time zone differences or variable testing windows. And with all documentation harmonised in a central location, your corporate customers can easily access and compare requirements.
MyStandards not only improves timescales, it significantly enhances the overall customer onboarding experience and reduces customer service enquiries.
Easy customer onboarding
Keeping everyone informed and in sync with variations and changes to message formats and specifications is essential to successful implementations – but it can be expensive and difficult to manage.
MyStandards provides a collaborative, online solution to manage standards definitions and industry usage more efficiently and cost-effectively.
Most importantly, combined with the Readiness Portal, MyStandards has proven to reduce the time and effort it takes banks to onboard corporate customers by 50%.
Both you and your customer will benefit from:
- Easy, self-service testing of your bank-specific formats
- A single approach to onboarding for your customers across all channels
- A shared view of implementation readiness, reducing risks
Simply put, MyStandards makes it easier and more efficient for you and your customers to do business. It offers you a harmonised experience for documentation and testing across all channels - SWIFT and non-SWIFT (host-to-host, e-banking, etc.).