BIS seeks feedback on ISO 20022 harmonisation initiatives
The Bank for International Settlements (BIS) is a global financial institution that works to promote international monetary and financial cooperation. Recently, the BIS has launched a consultation on its initiatives to harmonise the use of ISO 20022, a global standard for financial messaging. This consultation seeks feedback from the public on the potential benefits and challenges of harmonising the use of ISO 20022.ISO 20022 is a global standard for financial messaging that enables efficient and secure communication between financial institutions. It is used by banks, payment service providers, and other