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A year on from moving to the #ISO20022 standard for all cross-border payments, how does the space need to develop to promote harmonisation? Read this article by Asset Servicing Times. In the article - Roland Brandli, Business Strategy Director at SmartStream addresses the challenges of cross-border payments, emphasizing that the main issue lies not in the 97% of payments that are processed successfully, but in the 3% that encounter problems. He identifies manually written 'free format' messages as a significant cause of these exceptions, noting that such issues account for a high % of problematic transactions across various regions—from 53% in the Middle East to 92% in North America. This results in considerable manual labour, making the process expensive and time-consuming. #crossborderpayment #paymentexception

Cross-border payment: Learning to sing in harmony

Cross-border payment: Learning to sing in harmony

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