Financial software provider Finastra has extended its partnership with the National Bank of Greece (NBG) to support it through a transition to a new payments standard, ISO 20022, which will come into effect in November 2022.
NBG will upgrade to the latest version of Finastra’s Fusion Global PAYplus payments hub, which will enable the bank to get the most out of the new standard, thereby improving the efficiency of payment processing and delivering better customer experiences for domestic and cross-border transactions.
“Finastra’s Fusion Global PAYplus payments hub is already playing an integral payments processing role at NBG,” said Tal Weiser, managing director of sales and global services payments at Finastra. “With the ISO 20022 regulatory mandates just around the corner, NBG needed the assurance it was collaborating with a partner able to successfully support its transition. Finastra’s Fusion Global PAYplus will help expedite its modernisation journey, giving it the tools it needs to address future challenges and meet all critical deadlines.”
NBG currently uses Fusion Global PAYplus to process mass, high-value and real-time payments. In combination with the new standard, the Finastra solution will enable NBG to take a phased approach to migration.
“As a long-term Finastra partner, and user of Fusion Global PAYplus, we know that we are in expert hands and that Finastra will help us meet all regulatory requirements and address new customer needs as they arise,” said Babis Ermidis, payments sector head at NBG. “We look forward to a seamless and successful migration to the new standard and to delivering the benefits of ISO 20022 to our customers, as well as optimising our internal processes.”
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