BNY Mellon has launched an ISO 20022 Hub to help clients and other financial institutions to manage the transtion to the new payment standard.

Set for introduction in November 2022, the ISO messaging standard promises to have significant and widespread impacts on financial institutions across the globe over the coming years.

The BNY Mellon Hub will share insights on the mechanics of ISO 20022 transition and its strategic implications. It will provide educational resources, frequently asked questions, as well as expert insights to help the industry prepare for the transition to the new standard.

Isabel Schmidt head of direct clearing and asset account services products at BNY Mellon, says: “It is critical that institutions fully understand what’s required for a successful migration and begin to prepare for the transition starting now.”

The one-stop shop will provide an overview of ISO 20022 basics and timelines, alongside an online curriculum featuring insights from BNY Mellon experts and external speakers such as Swift, as well as associated learning modules covering a range of topics from basic and must-know information about ISO 20022 to the latest news on the progress made by the major RTGS systems.