The concept of payments data monetisation using payments data to improve either the efficiency of operations, launch, or enhance client-facing services is not new. 

Payments data monetisation refers to any use case for which the information in payment messages or in transaction records is leveraged to deliver value for the bank or its customers. This includes operational efficiency gains, enhanced customer propositions, and services that generate net new revenue for the financial institution

However, there has been an explosion of interest in recent months as margin pressure and growing customer expectations, alongside ISO 20022 migration and the expansion of real-time payments infrastructure, combine to create new revenue opportunities. With many banks already embarking on payment data monetisation strategies, few can afford to be left behind.


With many banks already embarking on payment data monetisation strategies, few can afford to be left behind.

Financial Institutions succeeding in the digital age are often ones that have improved their data integration – going beyond simply collecting and mining data. 

Use cases are moving rapidly from a focus on tactical compliance and operational use cases towards enabling a range of new client-facing initiatives. Monetisation, whether direct or indirect, is becoming an increasingly important driver of these activities. 

Factors driving Payments Data Monetisation  

- Corporate expectations are growing. 

- Bank margins are under pressure. 

- Real-time payments and ISO 20022 migration create the foundation for investment in data monetisation. 

- Data is increasingly viewed as a strategic asset in the industry.

Enterprises are integrating data from various, isolated silos to harness the data into business intelligence that can drive vital decision making and improve internal processes.


An ISO 20022 Native Data Platform

The benefits of ISO 20022 migration are obvious: greater transparency, increased reliability, lower costs, and a higher degree of automation for all market participants involved. However, there is still a long and, in some places, the rocky, road ahead before all these advantages can be enjoyed. 

When viewing the initiative from a global perspective, it immediately becomes clear that the various payment systems all have different approaches and timetables as to how and when to carry out the migration. For example, Europe’s largest clearing systems, TARGET2 and EURO1, are implementing their migration with a ‘big bang’ in November 2022. Although SWIFT is also launching its migration at the end of 2022, it is planning a transitional period lasting until 2025. Several other systems have yet to designate a timeframe for the migration.

A comprehensive end-to-end implementation by all participants is ultimately essential if all stakeholders are to benefit from the migration. This also means that companies need to act to address not only their processes and the format migration itself but also the accompanying changes regarding the structuring and generation of their data.

This implies multiple systems within a financial institution and a corporate will have to be upgraded to consume ISO 20022 data. This creates a direct dent in the budget as these updates will be in line with the global ISO 20022 plans.

Pamir - DB Enables banks to migrate to ISO 20022 standard and store the rich information without forcing large-scale change and disruption. It is specifically designed to manage large and complex data sets in the cloud, integrating and enriching diverse data sources along with the payment processes. 

A highly responsive and reliable data platform, flexible across multiple cloud providers and delivering both the compliance that regulators demand along with the agility to enable financial institutions to build new services and data models. 

In order to leverage value from the large-scale external changes being implemented by SWIFT and other Market Infrastructures, financial institutions need to be able to

- Internalize the ISO 20022 data language and definitions.

- Update systems to be able to receive data as per ISO 20022 definitions.

- Capture payments metadata from payments messages.

- Extend rich contextual payments data to existing organisational systems that are not ISO 20022 native.

Without the right tools and data platform, can be exceedingly expensive and complex.

Pamir ISO 20022 Data Platform is the future of a Data-centric and Low-Cost approach to organisational message enrichment.

Pamir-DB is designed to store the data in ISO 20022 native format, enabling financial institutions and corporates to not only create paths for the new standard but also open opportunities for organizations to assess how to unlock the value of new, higher quality payments data. This provides opportunities for more transparency, more automation and new services — all fueled by the richer intelligence encased in the ISO 20022 format. 

And the benefits extend far beyond compliance. While standardization will make payment infrastructure more efficient, better data will deliver notable benefits across the global economy.

An Ideal foundational data platform for payments transformation through IBM Watson / Azure Applied AI and AWS Sagemaker services. Federate data to legacy (non-ISO 20022) environments.

Bridge the gap between legacy data platforms and ISO 20022 with the inbuilt translator is designed for FIs to accelerate value extraction from ISO 20022.

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