Driving innovation in financial messaging: Key insights from the Datos Insights Vendor Evaluation

The financial services industry is undergoing rapid transformation, driven by evolving customer expectations, regulatory changes and the need for greater efficiency. The Datos Insights Vendor Evaluation: Financial Messaging – the first of its kind – explores key trends shaping the financial messaging space today, including the adoption of ISO 20022 standards, the rise of real-time payments, and the growing importance of interoperability across global payment systems. It also highlights leading vendors’ offerings and strategies, highlighting their primary strengths and challenges.

Our key takeaways:

• Post-ISO migration opportunities:  Banks and other institutions are accelerating migration to ISO 20022 to enable richer data exchange and improve compliance. With many banks and NBFIs currently implementing temporary solutions, such as transformation services, to meet compliance, this creates a significant post-migration modernization opportunity for leveraging ISO capabilities beyond basic requirements.
• Real-time payments: Demand for instant payments continues to surge, pressuring legacy systems and requiring more robust infrastructure and advanced fraud prevention measures. Financial messaging solutions need to meet and exceed customer expectations – especially in a world when everything is “instant.”
• Increased regulatory requirements: Rising regulatory complexity requires agile, proactive compliance and security – with mandates such as Swift’s Customer Security Program (CSP) setting new standards.
• API and SaaS platforms: Financial institutions are shifting to cloud-native, API-first platforms with microservices for more efficient, scalable, real-time operations. And with Swift retiring legacy connectivity components and moving away from service bureau models toward cloud-to-cloud API connections, this will create opportunities in gateway connectivity and last-mile optimization.
• Cross-border efficiency: The G20 roadmap is accelerating cross-border payment opportunities – improving speed, transparency and fraud protection via modern technology. Therefore, banks and payment providers are investing in solutions that streamline cross-border transactions and reduce costs. 

Ready to transform your Financial Messaging strategy?

Finastra stands out as a leading innovator in financial messaging and payments technology. With its comprehensive suite of solutions, Finastra empowers banks, non-bank financial institutions and corporates to stay ahead of regulatory requirements while unlocking new opportunities for growth and customer engagement.

As a courtesy to our current and future customers, we are offering a Finastra-prepared version of the Datos report, which includes our two-page vendor profile, as well as a high-level functionality assessment amongst the industry leaders and emerging players.

Contact us today to learn how our solutions can help you accelerate ISO 20022 adoption, enable real-time payments, and deliver exceptional customer experiences.