Monthly Archives: November 2020

Tracking down financial crime with Correspondent Bank Monitoring

Tobias Bumm/ November 17, 2020/ Uncategorized

Cross-border payment transactions promote international trade and services. However, foreign transactions entail an increased risk of financial crime. Credit institutions prevent this risk with effective correspondent bank monitoring and systematic analysis of payment messages.

ISO 20022 – a common language for global payments

Tobias Bumm/ November 2, 2020/ Uncategorized

The SWIFT payment network and the banking sector are about to migrate the previously used MT format for payment messages to the XML standard and the MX messages of the ISO standard. A huge challenge, but one that has many advantages for global monetary transactions. The size of the task and the effects of the corona crisis have caused delays in the schedule.