There are many new Infrastructures being built for real time payments, for high value payments and for batch low value payments. The new infrastructures all use the ISO 20022 messaging standard.

Many banks are renewing their payments systems, to better support customer and market demand in the digital age, and for smoother integration to new Infrastructures.

Bank clients and Fintech partners are also affected. Demand from large corporate clients to submit batch payments to banks using ISO 20022 is growing globally. Fintech look to deliver enhanced User Experience in payments to their clients, by embedding payments services that use bank APIs into their mobile applications.

This level of technology change is new. The TCH RTP (real time payments) launched in the US in late 2017 is the first new payments rail built there in 40 years.

Talk to XMLdation about smarter payments testing as your organisation navigates these changes.