The financial industry is rapidly transitioning from the aging ISO 8583 standard to the more robust and data-rich ISO 20022 framework to better support modern digital payments. This shift enables richer remittance data, improved interoperability, and enhanced straight-through processing. Cognizant’s sophisticated software solutions, including their Payment Messaging Converter and specialized mapping frameworks, are instrumental in accelerating this migration for financial institutions. By providing pre-built adapters and automation tools, Cognizant helps firms navigate complex regulatory requirements, reduce manual intervention, and ensure seamless compliance. This technology empowers organizations to modernize their infrastructure, capture data-driven innovation, and deliver faster, more

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