CPMI Advances Governance for ISO 20022 in Cross-Border Payments
Tuesday, January 21, 2025
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Posted by: Sierra Lindemann
The BIS Committee on Payments and Market Infrastructures (CPMI) announced plans to establish a global panel in 2025 to govern and maintain harmonized ISO 20022 data requirements, critical for improving cross-border payments. These efforts include supporting the development of market practice guidelines for fast payments and ensuring adoption of the standards by 2027. The initiative underscores CPMI's commitment to making cross-border transactions more efficient and secure.