Celero has adopted ISO 20022 for its digital ecosystem integration platform, Celero Xchange™,  to provide its credit union clients and partners a future-forward platform that will position them for success as digital ecosystems evolve towards this emerging standard.

As an international, open standard for the financial industry, ISO 20022 provides a standardized message format for payments data, improving speed, security and automation for real-time payments exchange. It’s emerging as a dominant information standard for financial communication and data sharing.

“ISO 20022 is the language that financial institutions and fintechs will speak in the future, and it was critical for Celero to ensure that our clients and partners have a platform in place that will enable them to choose solutions that have also adopted this standard,” says Barb MacLean, Director, Application Development.

“Celero Xchange is standard-based and our roadmap is standards-driven; our ISO 20022 adoption gives our clients another path to integration – along with CUFX and others – going forward,” she adds.

Celero is an early adopter of the standard within the Canadian credit union system; as it’s an elected standard from Payments Canada, it demonstrates both a focus and commitment from the system to realize payments modernization and the advent of open banking in Canada.

For more information on Celero Xchange, visit our product page.