![]() It is truly a key component for making payments faster and more efficient in the future. It will enable more efficient payment clearing and settlement among financial institutions (FIs) through the use of a common set of messages and agreement on their usage.įurthermore, it will enable interoperability between different financial market infrastructures (FMIs). ISO 20022 is the globally accepted standard for creating enriched payment and non-payment messages. What does the introduction of ISO 20022 to the Lynx system mean to your organization? It will allow us to leverage the new data, reduce friction points and create more value-add services for our customers. We believe that the full potential of the enriched data format will only be realized by enabling our upstream and downstream business capabilities with ISO 20022. TD is taking a holistic approach, focused not just on renewal of our wire payment platform, but also on the evolution of channels and initiation points for high-value and cross-border payments across the bank. We will evolve to a fully ISO 20022-based system capability over a period of time in line with the SWIFT MT/MX coexistence strategy. ![]() We are overhauling our wire payment technology platform to support the new ISO 20022 financial messaging standard being introduced globally by SWIFT and supported domestically by Lynx. ![]() ![]() How is TD preparing for the second release of Lynx? ![]()
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