Financial Institutions and Payment Service Providers
Financial institutions will be able to leverage modernized payment systems to provide faster, data-rich payments solutions to their clients.
The following are use cases that demonstrate the benefits of Modernization.
Same-Day Settlement
Financial institutions across Canada can settle later in the day instead of waiting until the following morning; reducing risk involved with providing provisional credit.
Providing a Seamless Experience
A payment software vendor offers an ISO 20022-enabled platform, offering a more seamless experience and making it easier for their customers to adopt and integrate with their solution.
New Data-Related Offerings
A software vendor is able to leverage the ISO 20022 data to offer new features and services to its clients.
New Market Opportunities
A data analytics startup partners with a bank to jointly offer new data services to banking customers.
Reduced Inquiries
Banks save significant time and effort in addressing inquiries about payment details.
New Data-Related Offerings
A bank is able to leverage the ISO 20022 data to offer new features and services to its clients.