Pamir - ISO 20022 Data Platform

Monetising your ISO 20022 Implementation


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. 


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


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 payments data monetisation strategies, few can afford to be left behind.

 

With many banks already embarking on payments 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.


Worlds first ISO 20022 native data platform. 


Pamir ISO 20022 Data Platform 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. 


Pamir ISO 20022 Data Platform


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.


Benefits of the canonical Data Platform


Value features for tactical (translation) and strategic (enrichment) stages of ISO 20022 adoption, through like-for-like and fully-structured stages. 


Bridges the gap between legacy data platforms and ISO 20022.


- Designed for FIs accelerate value-extraction from ISO 20022.


- ISO 20022 native data store for pre and post-translation messages: 10 years


- Automated, independent truncation reporting.


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