ISO 20022 Will Change Payments But Some Banks Won’t Be Ready

Celent surveyed senior executives and their clients at 211 banks ranging in size from $50 billion in assets to over $500 billion and corporate executives at firms with $100 million in revenue and higher who are users of SWIFT. It also surveyed 211 large corporations to see what they were doing about ISO 20022.

“Most corporates are multibanked, with the average in our survey being 10 banking relationships, with 5% having more than 30,” Celent said. “Given their relationships, corporates may be best placed to judge readiness.”