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In many years of SAP-based customer2bank integration projects we encountered a lot of banks still utilizing rather old and proprietary message formats. Trying to map these formats to the customers database often leads to inaccurate or lost information which in turn causes disruption and delays in the through-processing of the messaga at the bank.
Also development and mapping of these formats drives high costs and effort both at the bank and its customer making onboardings expensive and risky while causing a low acceptance of changes or the introduction of new message formats.
FinSystems offers business customers and financial institutions intuitive and intelligent solutions and services related to ISO20022 and SAP.
The global conversion of interbank and bank2customer communication to ISO20022 is both future and reality. The communication standard, which has been used in Europe for many years, is also spreading to North and South America, Asia and Australia and is increasingly being used in non-financial industries.
At the same time, the standard is evolving, producing new versions at a faster rate and penetrating new fields of application. This holds enormous opportunities, e.g. B. for increases in efficiency and safety, but increasingly requires specialized knowledge and skills from the user.
Since its establishment in August 2014 FinSystems is proudly looking back on a ever-growing list of projects with several industry customers in the area of ISO20022 message communication enablement and SAP rollouts.