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Payments messaging – the medium by which transactions take place around the world – is changing. The rollout of ISO 20022, a universal digital language that has been designed to meet the needs of modern banking, has been taking place for several years – but there are still many financial institutions who are yet to adopt this shared code.
2023 is a milestone year for the rollout. ISO 20022 will become the standard for cross-border payments and cash reporting starting in March 2023. After this date, the previous ‘MT’ messaging standard will be supported for backward compatibility purposes only – making it important that your business can integrate and run ISO 20022 in the coming months. J.P. Morgan is equipped with end-to-end processes, an ISO 20022 client resource center, and solutions to aid institutions in staying ahead of the upcoming changes.
To prepare, J.P. Morgan is advising clients who are yet to implement the new standard to ask important questions of their business to ensure it can accommodate these changes.
Some important questions to ask at the outset are:
The statements herein are confidential and proprietary and not intended to be legally binding. Not all products and services are available in all geographical areas. Visit jpmorgan.com/paymentsdisclosure for further disclosures and disclaimers related to this content.
Payments
Understanding the requirements to apply for a corporate credit card
Jun 27, 2024
Find out if your organization is eligible for a corporate card, then prepare documentation to apply.
Payments
Choosing the right credit card for your startup
Jun 27, 2024
Startups have unique, complex financial needs, and corporate and business cards can be powerful tools that simplify financial operations.
Payments
J.P. Morgan joins the MACH Alliance, advocating for open, best-of-breed technology
Jun 13, 2024
J.P. Morgan is a Supporter member, a category for leading organizations to share unique thought leadership and innovations on the future of enterprise technology.
Payments
Join J.P. Morgan Payments at EBAday 2024, Lisbon Congress Centre, Booth 73/74
Jun 12, 2024
You want a fast, simple and secure way to send and receive cross-border payments. We can send in 120+ currencies¹ and receive in 40+², across 160+ countries³.
Payments
Studio Science joins the J.P. Morgan Payments System Integrator Program
May 17, 2024
J.P. Morgan Payments is adding Studio Science, a customer experience consultancy, to the program to help joint clients with payments strategy and implementation.
Payments
How to protect your organization from check fraud
May 14, 2024
Check fraud remains an attractive target for fraudsters. Do you know how to prevent it?
Payments
How acquisitions like WePay are accelerating our mission to build a modern payments business
May 13, 2024
The integration of WePay into the J.P. Morgan Payments platform is the latest step forward in how we serve small and medium-sized businesses (SMBs).
Payments
Understanding the differences between corporate and business credit cards
May 01, 2024
Corporate and business credit cards offer significant benefits to corporations and small businesses, respectively. Learn about the key differences.
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