Head – Business Infrastructure
Consumer Payments & Cash Management
Head of Payments & Liquidity Management,
Ad van der Poel,
Head of Product Management – EMEA
Global Transaction Services
Franck de Praetere,
ISO 20022 Programme Director , APAC
Payments Technology Leader
Principal Product Manager
Payments & Cash Management
Learn how IDC MarketScape research can help you better evaluate the 14 global vendors and shortlist the right payment platform for your bank
SOURCE: IDC MarketScape: Worldwide Integrated Payment Platforms 2019-2020 Vendor Assessment, by Aaron Press, Feb 2020, IDC Doc#US46024520.
IDC MarketScape vendor analysis model is designed to provide an overview of the competitive fitness of ICT suppliers in a given market. The research methodology utilizes a rigorous scoring methodology based on both qualitative and quantitative criteria that results in a single graphical illustration of each vendor’s position within a given market. The Capabilities score measures vendor product, go-to-market and business execution in the short-term. The Strategy score measures alignment of vendor strategies with customer requirements in a 3-5-year timeframe. Vendor market share is represented by the size of the circles. Vendor year-over-year growth rate relative to the given market is indicated by a plus, neutral or minus next to the vendor name.
That ISO 20022 standards will impact financial standards, payment infrastructure and operational processes, is a given. The ongoing global pandemic has, however, lent a new urgency to the adoption with the expected rise in remote banking usage across sectors and associated need for a modernized payments ecosystem.
In more than 70 countries, ISO 20022 is replacing existing domestic or legacy payments messaging formats. With all reserve currencies preferring ISO 20022 standards, it is estimated that within the next 5 years, over 80% of high value payments will be based on these standards.
Whether you prefer a tactical upgrade of your financial messaging system or a strategic transformation of your legacy payments systems, Infosys Finacle has you covered.
Finacle Message Hub: Enterprise class message transformation engine built leveraging ISO 20022 standards. The solution offers a comprehensive suite of capabilities to enable translation across existing formats (FIN/MT, or other proprietary formats), and the new ISO20022 (MX) formats.
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