At the EBAday 2026 in Copenhagen, Paul Ruskin, Director of Business Development at Trace Financial, shared insights on the ongoing evolution of ISO 20022, particularly as the November deadline for structured addresses approaches. Ruskin expressed his astonishment at the successful transition from MT to ISO 20022, especially following the conclusion of the co-existence phase last year. However, he voiced concerns regarding the transparency of banks in disclosing their actual levels of ISO compliance. Despite the opportunities provided by industry leaders like Swift for an early transition, many institutions failed to capitalize on these chances in a timely manner. Furthermore, Ruskin emphasized the continued necessity of translation services within the industry, noting that artificial intelligence has yet to facilitate fully compliant operations, leaving many tasks still reliant on manual processes.
Source: Finextra
