One for All: How Companies Can Benefit from the Standardised ISO 20022 CGI Format for Global Payments
The standardised ISO 20022 CGI message format (based on XML1) for global payments is increasingly gaining ground and provides many benefits to companies. These include, among others: uniform communication with numerous banks, standardised and automated processes across the group, lower costs for payments, faster transactions even if business volume increases, and a future-proof format due to interoperability with other standards. Based on these advantages, there is a marked trend towards utilisation of standardized formats for payments by both corporates and banks. This whitepaper will provide an introduction to ISO 20022 CGI for all interested companies and will highlight how companies can benefit from going beyond SEPA and choosing ISO 20022 CGI for SEPA and world-wide payments.