GPTs is a better way to approach ISO migration
Meet the new standard for modern payment message translation. Streamline ISO20022 migration for SWIFT, CHIPS, CHAPS, and more with our comprehensive toolkit.
Organizations in the financial industry are required to update their financial systems and processes from one set of standards or protocols to another, specifically the ISO 20022 standards for electronic data exchange in the financial industry. The required deadlines for these changes are rapidly approaching.
The Problem
The process of ISO Migration is complex, challenging, and costly.
Not ALL organizations have the capability to implement the changes and work with new payment messages.
This is particularly problematic for organizations with legacy systems that may not be able to be upgraded by the required deadlines... or at all.
ISO XXX123 Migration? This is not the first and will not be the last migration businesses need to do.
When building GPTs we asked ourselves two questions
How can we extend the usefulness of legacy systems that work today but don't support ISO 20022 and maximize their long term value?
How can we allow new modern systems to communicate with legacy systems without impacting them?
The Solution?
Unlike any payment software you've seen before
(GPTs) Global Payment Translation Suite
What is it?
Global - Deployable globally, regionally, or locally and accessible via API or queues (public and private cloud deployable)
Payment - Can process ALL payment message types, formats, standards (even ones that don't exists yet!)
Translation - Provides the tools required to do 'translations' from one type to another
Suite - Not just another package of code but a suite of products designed to enhance developer productivity, reduce costs, and speed up implementations. These products include a payment translation portal, a process visibility application, and other tooling that accelerates implementations well beyond the industry norm.
The Future
Of ISO Migration
By implementing and deploying GPTs, your team will be equipped to handle any future translation needs with minimal code changes and without disrupting current systems.
Even the most modern solutions you develop or buy today will become legacy in the future.
GPTs will allow them to remain relevant for longer, maximizing your return on investment and give you the freedom to make changes at your own pace, rather than being forced to adhere to external deadlines.
How does it work?
Instead of changing code in the legacy systems systems you can upgrade and downgrade messages on the way in and out.
This keeps the mission critical systems untouched and allows modern systems to communicate with everything providing true interoperability between even the oldest and newest systems
To learn more about GPTs, what an implementation looks like, and how fast you can achieve success, please inquire at the link below.
Send Product InquiryPublic and private cloud deployable configuration driven translation application (Java)
Standard communication adapters: REST APIs, Databases, and various Queues
Example translation configurations for (CBPR+, CHIPS, Fedwire, etc)
Self hosted Visibility Portal that provides stakeholders with real time translation metrics and event logging while also providing developers translation error tracing.