Press Release

Concourse Supports ISO 20022 Payments Format and SEPA

Concourse Supports ISO 20022 Payments Format and SEPA

As the creator of the Concourse Financial Software Suite, BHMI is proud to announce its support of the ISO 20022 standard within the customer-to-banks payments domain.

The ISO 20022 payments format standards provide a common, effective language for both people and machines in the end-to-end payments chain and also allow financial institutions to overcome semantic and syntax barriers when working across borders. The Concourse Financial Software Suite is constantly evolving to meet the needs of global payment standards and client needs in the rapidly evolving world of payments.

The Concourse Financial Software Suite enhancements support the payments domain in the Single European Payments Area (SEPA). SEPA is a payments system created by the European Union and utilizes ISO 20022 to harmonize cashless transactions across European borders. SEPA works to improve efficiency and overcome payment barriers of cross-border payments to support movement of European currency.

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