Understand Your
Bank Data

What is ISO20022?

ISO20022 is a universal file format standard used to send instructions to banks. Companies send ISO20022 files to banks to make payments and receive ISO20022 files to receive transaction data. This library allows companies to create and ingest messages in this standard to enable them to interact with banks programmatically.

One example of an ISO20022 message is a SWIFT payment instruction. When a company wants to send a SWIFT payment from their bank account to another bank account, they need to send an ISO20022 message to their bank.

You can use ISO20022 Pro to import bank statements, like CAMT (cash management) files and pain (payment initiations) files. You can also use ISO20022 Pro to create payment instructions in SWIFT, SEPA, and other payment formats.

How Can I Import Bank Statement and Payment Files?

Banks provide account statements and payment data in standardized formats like CAMT.053 (bank statements) and pain.001 (payment initiations). However, these XML files can be complex and difficult to work with directly.

Whether you're receiving hundreds of bank statements or need to initiate thousands of payments, manually processing these files is time-consuming and error-prone. That's why companies need tools to validate, parse, and process their ISO 20022 files efficiently and accurately.