The way payments are made in the UK is set to fundamentally change over the next 12 months. This overhaul of the current system is thanks to the introduction of the ISO 20022 message format, and the changes are set to affect all organisations that make payments, including corporates, banks and other financial institutions.
By May 2025, ISO 20022 will be mandatory for high-value CHAPS payments. Any pending payments will fail if they are not compliant by the deadline. All other payment types will follow over time.
That’s why the ACT's policy and technical team and AccessPay have joined forces to bring you this ISO 20022 Resource Hub, which will help you to make informed decisions and take the most appropriate steps for your business.
We've split the hub into three sections, so depending on your focus – as a CFO, treasurer or member of the implementation team – you will find relevant articles, webinars and videos to help you on your journey.
We hope you find this content useful. Please email the Policy and Technical team technical@treasurers.org if you have any feedback on areas you would like to see covered.
The ACT's Naresh Aggarwal, associate director, Policy and Technical, talks to Anish Kapoor, CEO of AccessPay, about the areas that are top of the agenda for treasurers.
AccessPay is registered in England (Company No. 08033029) with its registered office at City Tower, Piccadilly Plaza, Manchester M1 4BT.
