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The Future of Payments: SWIFT, TARGET2 and ISO 20022

In the course of teh transition to ISO20022, the European payments infrastructure will change fundamentally and enormous opportunities in terms of process efficiency and an optimized customer experience will open up. Even though the integration of the standard is not mandatory from a regulatory perspective: To keep pace with international developments, extensive implementation projects lay ahead of European banks. In this article, we provide a brief overview of what is at stake and when the changes will take effect.

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