ISO 20022
Progress Solutions Enforce Data Integrity for ISO 20022
The International Organization for Standardization (ISO) 20022 standard provides the financial industry with a common data platform for the development of messages in a standardized XML syntax. ISO 20022 is a standard for Standards - a methodology for the creation of consistent message standards using data to describe data and interactions.
Financial institutions looking to support the ISO 20022 standard when automating payment processing need superior data interoperability tools to deal with legacy and new messaging systems. The Progress RBI Suite complies by offering innovative solutions for payment modernization that enable organizations to better integrate data and meet ISO 20022 specifications. The Progress RBI Suite simplifies financial messaging development and maintenance and makes it easier to model, test, and deploy reusable data services that can parse, validate, transform, and enrich ISO 20022-based messages as well as messages based on other common standards.
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ISO 20022 ISO is a worldwide federation of National Standards Bodies. International Standard ISO 20022 - UNIversal Financial Industry message scheme (abbreviated to UNIFI) was prepared by Technical Committee ISO TC68 Financial Services. The UNIFI standard provides the financial industry with a common platform for the development of messages in a standardized XML syntax. This flexible framework allows communities of users and message development organizations to define message sets according to an internationally agreed approach and to migrate to the use of common XML-based syntax. |
Progress ISO 20022 Standards Library Simplifies Updates
The Progress RBI Suite Standards Libraries offer support for the ISO 20022/UNIFI standard; European Payment Council SEPA standards; and the Society for the Worldwide Interbank Financial Telecommunication (SWIFT) SWIFTNet FIN MT and SWIFTNet Solution MX standards.
The Standards Libraries are specialized components for specific business scenarios such as corporate actions, OTC derivatives, and payments processing. Each library implementation includes the industry standard message syntax, validation rules, and test cases of valid and invalid data. We supports the latest release of each standard by issuing updates and offers rich, out-of-the-box support for all financial messaging data services requirements.
The Progress RBI Suite adds a level of abstraction above ISO 20022 metadata so that any metadata source is deployed to The Progress RBI Suite with a consistent API. The ISO 20022 standards library includes full reference implementation and direct links to the published ISO 20022 standards releases, XML instance documents, applicable Message Definition Reports, and more.
Progress Software also provides solutions for hybrid integration, SWIFT parsing, a federated ESB, open source message router, OSS BSS integration, complex event processing as well as an CORBA implementation and SaaS.
