December 2016 edition
Table of contents
Editorial by Nicole Walker, PostFinance
The Swiss are relaxed about the realignment of payment traffic
- Swiss financial institutions, their IT partners and all other parties that are driving the migration to the ISO 20022 standard are going about it systematically and with expertise. That is the conclusion by Urs Bieri, co-head of the opinion and market research institute, gfs.bern, after evaluating a public survey. He further concluded that satisfaction is very high with the existing solutions, particularly when it comes to domestic payments.
Regulatory background for the conversion of payment traffic
- The migration of the Swiss payment slips to the ISO 20022 standard is compliant with regulatory requirements. The requirements resulting from FINMA’s revised Anti-Money Laundering Ordinance can be met through the changeover to the QR code replacing the current payment slips. Moreover, ISO 20022 simplifies adherence to the Anti-Money Laundering Act.
Migration to ISO 20022: Test platforms’ usage increases
EBICS and ISO 20022: More than just the sum oftheir parts
- The two open standards, EBICS and ISO 20022 payments are the perfect pair for the electronic data exchange in payment traffic between customer and bank. Both are modern standards that perfectly describe their respective areas of application and together seamlessly cover the complete requirements for an efficient and secure interface.
ISO 20022 – Impetus for digital Switzerland
- A highly accessible payments infrastructure is the basis for economic coexistence and the backbone of the Swiss economy. The migration of payment traffic to ISO 20022 is therefore also a milestone project for the Swiss economy and society. With the “Activating Digital Switzerland” information campaign, starting in the next weeks, PaymentStandards.CH will begin informing the greater public about the essential innovations.