- Enhance the efficiency and accuracy of Financial Messaging of financial institutions in the MEPS+ (Monetary Authority of Singapore Electronic Payment System) protocol.
- Ensure compliance and seamless integration with the newly introduced CBPR+ (Cross-Border Payments and Reporting Plus) messaging standard.
Global Technology Leader, chose Financial Messaging SDKs as an optimum way to ISO20022 compliance.
The long-term collaboration between NEC Corporation and PaymentComponents, through the integration of Financial Messaging SDKs, proved to be a successful venture. Financial Messaging technology as implemented by Payment Components, addresses the immediate need for Compliance and Flexibility both for the MEPS+ and the CBPR+ standards. It also positions global technology leaders such as NEC in a power position on the evolving payments landscape.
ISO20022 Messaging SDK
- Payment Components provided NEC Corporation with its state-of-the-art Financial Messaging technology. This technology is tailored to seamlessly integrate with the existing Payment Gateways or Core Banking systems, enabling a smooth transition towards MEPS+, the new enhanced financial messaging protocol of Singapore.
- The robust and flexible nature of Financial Messaging SDKs allowed also for a smoothless adaptation to the CBPR+ messaging standards, ensuring NEC Corporation clients remained compliant with the new regulatory requirements without any operational hitches.
- The provided SDKs can be utilized to to build, Parse, and transform SWIFT MT Financial Messages to ISO20022.
- The tools are updated annually, immediately after the new rules are publicized by Governing Authorities and SWIFT.
- The integration of SDKs within existing payment applications, ensures a scalable solution, allowing and accelerating future expansions and adaptations to any Payment Scheme as the financial messaging standards and regulatory requirements evolve.