This document explains the global shift to ISO 20022 as a universal messaging standard for payments. It highlights accelerated adoption, the sunset of legacy MT messages in 2025, and the significant increase in available payment data fields. It discusses the challenges for banks—modernizing back-office systems and translation requirements—and the benefits of richer, structured data for compliance, efficiency, and global interoperability. The infographic also outlines how OpenText assists with data mapping, translation, and implementation to support seamless ISO 20022 migration.

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