What is iso 20022 nedir?

ISO 20022 is a global standard for electronic data interchange between financial institutions. It provides a universal language for financial messaging, enabling interoperability between different systems and institutions. The standard defines the structure and content of financial messages, including payment instructions, confirmations, and statements. It is used by banks, corporations, payment systems, and government agencies around the world. ISO 20022 aims to reduce costs, increase efficiency, and improve the quality and reliability of financial communications. It also supports new technologies and innovative payment services, such as instant payments and mobile payments.