In the current issue of ‚gi – Geldinstitute‘ journal (04/2022), Joachim Dorschel, Managing Director DPS, and Carsten Lange, Partner Payments at DPS, explore why the ISO20022 migration poses major challenges for many banks and which strategies promise success from today’s perspective.
“The new MX formats encounter a legacy infrastructure, especially in the back office, which has often not been significantly developed for decades. … The technical debts in the settlement systems are correspondingly high. Institutions are often faced with the decision to rebuild COBOL applications developed in the early 1990s, to develop new ones or to outsource back-office processing”, the experts analyse.
The full text of the German-language article can be found here: https://www.geldinstitute.de/it-itk/2022/iso20022–warum-die-migration-so-viel-muehe-kostet.html