One standard message format for making payments with banks worldwide: this requirement, long at the top of the shopping list for international corporates, could soon become reality. Among the many drives to standardize payments between corporates and banks, the "Common Global Implementation" initiative (CGI) has set itself a particularly demanding challenge. Taking the ISO 20022 XML standard, a working group formed in 2009 set out to establish a generic core message for corporate - bank payment flows. Among the original 30+ members were some of the largest global banking groups, bank associations and major corporates.
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