Coforge announced a strategic partnership with Fiorano to introduce ISO 20022 Compliance as a Service (ICaaS). As of March 2023, ISO 20022 has been live on the SWIFT cross-border payments network. Multiple domestic market infrastructures are also making substantial progress towards the complete adoption of this new payments message standard by the end of 2025. The migration is not just a step towards enhanced efficiency but a foundational pillar in the burgeoning world of digital currencies. However, migrating to ISO 20022's unique requirements can be complex. The ICaaS offering from Coforge & Fiorano is a comprehensive solution designed to streamline the migration process to ISO 20022 compliance, providing those organizations impacted, with a seamless and costeffective transition.
The comprehensive, end-to-end ISO 20022 Compliance as a Service (ICaaS) solution covers crucial elements including ISO 20022 Process Consulting, Translation, Structured Data, Data Truncation Management, and Quality Assurance, ensuring a seamless and cost-effective transition for financial institutions at any stage of their migration journey. The services offered by ICaaS include specialized SWIFT-focused consulting, advanced migration tools, ISO 20022 data products, and robust end-to-end testing services, tailored to meet the unique needs of each institution.