In this episode of CISI Operations Unpacked, Andrew Muir unpacks the evolution from ISO 15022 to ISO 20022 and explains why it is central to the digital transformation of financial services.

Andrew outlines why ISO 20022 was developed, by whom, and how its structured, data-rich messaging model improves on legacy standards. He breaks down the key components of the ISO 20022 framework and explains how it interacts with SWIFT as part of the global migration programme.

The discussion explores which firms are impacted — from banks and payment providers to custodians, market infrastructures, fintechs and even organisations that may not initially realise they fall within scope. Andrew shares practical examples of firms using ISO 20022 to enhance straight-through processing, improve data quality, and strengthen financial crime controls.

The episode also examines what gives ISO 20022 an edge over alternatives — including richer data, interoperability and future-proof design — while addressing the challenges and unintended consequences firms face during implementation.

A clear and practical guide to why ISO 20022 matters, who it affects, and how it is reshaping financial operations.

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