Scotiabank Lays Foundation for Data-Rich Payments across Global Footprint
Retrieved on:
Tuesday, March 21, 2023
The SWIFT (Society for Worldwide Interbank Financial Telecommunication) system migration upgrade allows Scotiabank the ability to process ISO 20022 wire payments for clients throughout its global footprint across 26 markets in North America, Latin America, Caribbean, Europe, and Asia Pacific.
Key Points:
- The SWIFT (Society for Worldwide Interbank Financial Telecommunication) system migration upgrade allows Scotiabank the ability to process ISO 20022 wire payments for clients throughout its global footprint across 26 markets in North America, Latin America, Caribbean, Europe, and Asia Pacific.
- SWIFT has led the global migration to ISO 20022 for wire payments, an upgrade that enables payments to become borderless and context-rich.
- "This is another in a series of investments in our payments platform, designed to improve customer experiences," said Matthew Parker-Jones, SVP, Products and Operations, Global Business Payments at Scotiabank.
- Bringing ISO 20022 to the global financial community is a giant leap forward in modernizing payments – made possible by strong industry collaboration with Payments Canada, SWIFT, European Central Bank, and other global payments partners.