BNY Mellon’s Isabel Schmidt on the Challenges of Adopting ISO 20022
By Anton Grant · 4 January 2023
For The Paytech Show, our guest Isabel Schmidt of BNY Mellon discusses the company’s early adoption of ISO 20022 and the challenges that it brings for legacy institutions still operating on old tech. Instant and cross-border payments involve complex processes accounting for risk management and multiple stakeholders. Schmidt’s advice to FIs is to act now and embrace the transformation opportunities that come with ISO 20022.