ISO 20022 - the strategic response
The need for a strategic solution to ISO 20022
The takeup of ISO 20022 XML messaging has gathered pace strongly over the last year or two. Many large firms have a policy to use ISO 20022 internally for all new projects, and centralised services around the world – such as payments infrastructures – are rapidly transitioning to the standard. However numerous well-entrenched legacy messaging standards – such as, of course, the familiar SWIFT ‘MT’ formats - will continue in use for quite some time.
What is more, ISO 20022 is itself a complex standard. One message type can have many variants and versions, and may be ‘extended’ with many more fields, if this is needed by specific usage groups. What's the best way of delivering projects in this complex and fast-moving standards environment?
We strongly believe that Transformer is the best strategic solution. Here is why …
The most complete description of the standard
Transformer's libraries capture all of the details of the ISO 20022 standard in a business-friendly way, making them ideal for real-world project needs. Transformer’s libraries provide user-friendly names and full descriptions for all fields, components, and data range values, and fully supports cross-validation rules.
Transformer offers a fast, code-free approach to building solutions
Transformer dramatically shortens the time taken to build solutions involving complex standards.
The analyst using Transformer creates solutions directly in the intuitive Design-Time GUI. There is no coding stage, even when the required data transformation is highly complex. Projects remain clearly articulated and easy to maintain, and removing the old-fashioned ‘spec handover’ from analyst to developer eliminates a major source of risk and delay.
Users create mappings very easily in Transformer. For example, copying a field from the source to the target message just takes a simple ‘drag and drop’ action - Transformer automatically takes care of any reformatting required between the source and target syntax. To handle more complex mappings, Transformer provides a huge range of ready-made 'mapping action' building blocks. These can include conditions, which can in turn be combined into complex logic. So even really complex ISO 20022 solutions can be created at lightning pace.
You can also run a test on each new 'line' of a mapping or validation as soon as it has been added, moving the testing process as far upstream as possible, and ensuring high quality from the very start. Transformer also provides powerful regression testing facilities to help ensure that future standards changes do not adversely impact existing solutions.
You can learn more about all of these Transformer features here
Leap ahead with ready-built MT-MX mappings
Conversion between SWIFT MT and MX (ISO 20022 XML) formats will be a challenging requirement for many projects. The rules specifying these conversions are very complex, so attempting to create your own MT-MX mappings could be a huge task.
Using Transformer, simply start with the full set of high quality MT-MX mappings we’ve already built for you. You can quickly and easily customise them to meet specific project needs. Find out more here
Transformer is the strategic answer to ISO 20022
All of these resources combine to ensure that Transformer the most powerful way to handle advanced standards such as ISO 20022 and enable projects to build solutions that are delivered fast, to a high quality, and which stay maintainable in the longer term.
To find out more or arrange a demonstration either online or in your office, please contact us