New High Value Payments Systems Task Force Is A Key Enabler Of ISO 20022 Harmonisation - SWIFT, Along With Major Global Banks And Market Infrastructures, Has Formed HVPS+ - An ISO 20022 Market Practice Task Force That Will Address Evolving Market Needs In The High Value Payments Systems Space

Following the launch of the ISO 20022 Harmonisation Charter, an industry-driven framework to facilitate the rollout of ISO 20022 globally, SWIFT has formed a global market practice task force of markets infrastructures and banks. Sponsored by the Payments Market Practice Group (PMPG), the task force aims to address the evolving ISO 20022 standards requirements of high value payments systems (HVPS) providers. It is a key component of SWIFT’s ISO 20022 harmonisation initiative that aims to address the industry concern around fragmentation and the risk of multiple versions and flavours being adopted across various markets, leading to higher implementation costs.