Transforming uncertainty into opportunity: Coexistence of ISO 15022 and 20022 messaging standards

Abstract

New business opportunities are born from uncertainty. Uncertainty in business may be attributed to market disruption, social or geopolitical unrest, or even groundbreaking technological shifts. It may also be a by-product of a changing competitive landscape, where firms merge and divest, expand and collapse, or re-invent themselves. But people run businesses, and people are naturally predisposed to avoid uncertainty. We seek resolution and direction — a plan or path that demonstrates success or fulfilment. Uncertainty challenges the supposition that success is assured, and this is what makes the coexistence of ISO 15022 and ISO 20022 messaging standards difficult for our industry. But it is uncertainty that favours the entrepreneur and the agile innovator, because uncertainty includes endless paths and possibilities that translate into opportunity and potential for those firms that leverage disruption in order to innovate.