Quick Reads: Become Compliant with Instant Payments

Rethink Your Testing Approach to Become Compliant with Instant Payments: As the financial world rapidly adopts ISO 20022 for improved interoperability, managing the complexities of this standard becomes crucial. The upcoming 2025 Instant Payments regulation in Europe further underscores the need for automated continuous testing of payment processes.

The Complexity of ISO 20022

ISO 20022 is becoming the global standard for financial messaging, with new initiatives emerging worldwide. Its complexity arises from numerous fields, elaborate processes, and various format implementations. Managing this complexity with every new release, whether for routine maintenance or major overhauls, is essential.

Unique Challenges of Instant Payments

Tuning the Elapsed Time

To meet the essence of Instant Payments—fund availability within 10 seconds—fine-tuning the message flow time down to milliseconds is vital. This requires an agile process: optimizing, checking results, and making quick decisions. Continuous end-to-end testing ensures tiny bugs are caught early, preventing disruptions and ensuring smooth optimization cycles.

Ensuring 24/7/365 Availability

Achieving round-the-clock availability means no more cut-off times, even for testing. Continuous testing must operate 24/7/365, initiating transactions, managing exceptions, and verifying message formats automatically. This system must provide statistical reports for meaningful results, ensuring readiness for the next business day.

Bridging Legacy Systems with New Standards

Legacy payment systems, stable for decades, pose another challenge. New team members must understand traditional systems, analyze the future instant world, and plan quality assurance for compliance. Automated test solutions like Unifits relieve key players from the intricate details of instant payment messages and processes.

The Value of Automated Continuous End-to-End Testing

Investing in modern, automated continuous end-to-end testing is crucial not only for major implementations like Instant Payments but also for ongoing system updates. Each new release requires regression testing to address ISO 20022 complexities and annual rulebook updates.

Moreover, ISO 20022’s global adoption ensures future reliability. With the Unifits Test Engine, you are prepared for compliance with various payment schemes—instant, batch, high-value, or mass payments. ISO 20022-based continuous testing for Instant Payments can also establish testing standards for SEPA, high-value payments, SWIFT CBPR+, and even new areas like SWIFT case management.

🪂 Ensure your compliance with Instant Payments now! Contact us to discover how Unifits can streamline your testing processes or learn more about our automated solutions for ISO 20022 compliance.