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Financial Messaging Consultant - Fehraltorf/ZH

Financial Messaging Consultant - Fehraltorf/ZH

We are looking for a Financial Messaging Consultant with several years of experience in the banking environment, or with a technical background, to join our Professional Services team in Fehraltorf-ZH, Switzerland.

 

In focus

From the requirements analysis to the conception of the software solutions to the implementation at the customer's site, you accompany the introduction of future-oriented financial messaging solutions. These are used by banks and insurance companies and in other industries as key solutions for application integration (EAI) or process monitoring. As an extended arm of the service desk, you also look after and support the customers in their daily operational questions.

Your task

Do you like to work with above-average commitment for your results and become part of the success? You don't mind extraordinary and even international assignments at sometimes unusual working hours? Are you a balanced team player with good communication skills? You like to pass on your knowledge and also like to absorb knowledge? You like to work independently and have an above-average amount of initiative? Do you have strong technical and conceptual skills and a high level of customer orientation?
Are you enthusiastic about innovative technologies? Are you familiar with Docker, Kubernetes, Elasticsearch, SQL, SWIFT and/or ISO 20022? Do you know how payment transactions and securities processing basically work? Are you fluent in English? You have already gained initial project management experience?

If you can answer the above questions with "yes", or you are willing learn and adopt new skills, we would love to learn more about you!

 

About us

Incentage is a leading provider of messaging solutions for the financial market. International financial institutions such as Euronext, Credit Suisse, Nomura or Strate rely on our products to integrate, monitor and provide access to applications and message flows in payment and securities settlement. Incentage has been well established in the global financial market for over 20 years and is known for high quality software products that are flexible and help clients stay on top in the rapidly changing environment. For us, customer focus means that results are more important than processes and organization.

With a 40-hour working week in the flexitime model and hybrid home-office/presence plan, Incentage offers a competitive salary, additional contributions to the pension fund, no deductions for UVG, and a variety of smaller goodies such as free parking, free SBB half-fare cards, free drinks, and much more.

Interested in getting to know us?

At Incentage, we believe in the power of diverse perspectives and are committed to fostering an inclusive workplace. While we have outlined certain qualifications for this role, we understand that no candidate is a perfect match for every requirement. We encourage individuals with a passion for technology to apply. If you possess transferable skills or are eager to learn, we want to hear from you!

Feel free to reach out for more information or to discuss how your unique experiences can contribute to our team. We look forward to considering all qualified applicants. Don’t hesitate to send your application to Thomas Arnold (thomas.arnold( at )incentage.com) or reach out if you have any questions.

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Financial Messaging Consultant - Fehraltorf/ZH
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Financial Messaging Consultant - Fehraltorf/ZH

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Financial Messaging Consultant - Vienna

Financial Messaging Consultant - Vienna

We are looking for a Financial Messaging Consultant with several years of experience in the banking environment, or with a technical background, to join our Professional Services team in Vienna - Austria.

 

In focus

From the requirements analysis to the conception of the software solutions to the implementation at the customer's site, you accompany the introduction of future-oriented financial messaging solutions. These are used by banks and insurance companies and in other industries as key solutions for application integration (EAI) or process monitoring. As an extended arm of the service desk, you also look after and support the customers in their daily operational questions.

Your task

Do you like to work with above-average commitment for your results and become part of the success? You don't mind extraordinary and even international assignments at sometimes unusual working hours? Are you a balanced team player with good communication skills? You like to pass on your knowledge and also like to absorb knowledge? You like to work independently and have an above-average amount of initiative? Do you have strong technical and conceptual skills and a high level of customer orientation?
Are you enthusiastic about innovative technologies? Are you familiar with Docker, Kubernetes, Elasticsearch, SQL, SWIFT and/or ISO 20022? Do you know how payment transactions and securities processing basically work? Are you fluent in English? You have already gained initial project management experience?

If you can answer the above questions with "yes", or you are willing learn and adopt new skills, we would love to learn more about you!

 

About us

Incentage is a leading provider of messaging solutions for the financial market. International financial institutions such as Euronext, Credit Suisse, Nomura or Strate rely on our products to integrate, monitor and provide access to applications and message flows in payment and securities settlement. Incentage has been well established in the global financial market for over 20 years and is known for high quality software products that are flexible and help clients stay on top in the rapidly changing environment. For us, customer focus means that results are more important than processes and organization.

With a 40-hour working week in the flexitime model and hybrid home-office/presence plan, Incentage offers a competitive salary and other benefits like the possibility to visit Switzerland for our yearly Incentage Ski-Weekend..

Interested in getting to know us?

At Incentage, we believe in the power of diverse perspectives and are committed to fostering an inclusive workplace. While we have outlined certain qualifications for this role, we understand that no candidate is a perfect match for every requirement. We encourage individuals with a passion for technology to apply. If you possess transferable skills or are eager to learn, we want to hear from you!

Feel free to reach out for more information or to discuss how your unique experiences can contribute to our team. We look forward to considering all qualified applicants. Don’t hesitate to send your application to Thomas Arnold (thomas.arnold( at )incentage.com) or reach out if you have any questions.

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Financial Messaging Consultant - Vienna
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Financial Messaging Consultant - Vienna

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Financial Messaging Consultant - Toronto

Financial Messaging Consultant - Toronto

We are looking for a Financial Messaging Consultant with several years of experience in the banking environment, or with a technical background, to join our Professional Services team in Toronto.

 

In focus

From the requirements analysis to the conception of the software solutions to the implementation at the customer's site, you accompany the introduction of future-oriented financial messaging solutions. These are used by banks and insurance companies and in other industries as key solutions for application integration (EAI) or process monitoring. As an extended arm of the service desk, you also look after and support the customers in their daily operational questions.

Your task

Do you like to work with above-average commitment for your results and become part of the success? You don't mind extraordinary and even international assignments at sometimes unusual working hours? Are you a balanced team player with good communication skills? You like to pass on your knowledge and also like to absorb knowledge? You like to work independently and have an above-average amount of initiative? Do you have strong technical and conceptual skills and a high level of customer orientation?
Are you enthusiastic about innovative technologies? Are you familiar with Docker, Kubernetes, Elasticsearch, SQL, SWIFT and/or ISO 20022? Do you know how payment transactions and securities processing basically work? Are you fluent in English? You have already gained initial project management experience?

If you can answer the above questions with "yes", or you are willing learn and adopt new skills, we would love to learn more about you!

 

About us

Incentage is a leading provider of messaging solutions for the financial market. International financial institutions such as Euronext, Credit Suisse, Nomura or Strate rely on our products to integrate, monitor and provide access to applications and message flows in payment and securities settlement. Incentage has been well established in the global financial market for over 20 years and is known for high quality software products that are flexible and help clients stay on top in the rapidly changing environment. For us, customer focus means that results are more important than processes and organization.

With a 40-hour working week in the flexitime model and hybrid home-office/presence plan, Incentage offers a competitive salary, additional insurance, and the possibility to visit Switzerland for our yearly Incentage Ski-Weekend.

Interested in getting to know us?

At Incentage, we believe in the power of diverse perspectives and are committed to fostering an inclusive workplace. While we have outlined certain qualifications for this role, we understand that no candidate is a perfect match for every requirement. We encourage individuals with a passion for technology to apply. If you possess transferable skills or are eager to learn, we want to hear from you!

Feel free to reach out for more information or to discuss how your unique experiences can contribute to our team. We look forward to considering all qualified applicants. Don’t hesitate to send your application to Thomas Arnold (thomas.arnold( at )incentage.com) or reach out if you have any questions.

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Financial Messaging Consultant - Toronto
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Financial Messaging Consultant - Toronto

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Senior Software Engineer Java 80%-100%

Senior Software Engineer Java 80%-100%

Senior Software Engineer Java, 80 - 100%

Interested in product development, distributed systems, software engineering, cloud ready microservice architecture?

We are extending our development team with a senior Java engineer. We are passionate and love clever software design and clean code. As developers we are “all in”, roll up our sleeves, coordinate continuously (in German and English) and work for results –wherever there is a need.

In Focus

An event based, distributed messaging platform with a scalable store for hundreds of millions of messages and a modern Web UI. The platform consists of microservices for connecting to different protocols, processing of various message formats, and a rules-based conversion engine. A scalable, Elastic Search backed message store and a Vue 3 based Portal provide access for end users. A particular focus of current developments is the SWIFT gateway, sanction screening module and monitoring platform.

As a Java engineer your responsibilities are the development of the various backend services. You are involved in the full lifecycle of development: Breaking down requirements, designing solutions, developing features and testing, bug fixing and helping our professional services staff with product related questions.

Requirements

·       Experience in designing and building infrastructure and web services at large scale
·       Strong knowledge of Java software architecture and clean coding
·       Hungry to understand the full picture
·       Knowledge in Spring Boot, REST, Elastic Search, Postgres, AMQ
·       Experience with Containers, Kubernetes, cloud platforms
·       Know how to apply clean code and testing principles
·       Good English and/or German speaking skills
·       Love to work in a great team

Nice to have:
·       Experience with SWIFT connectivity
·       Experience with identity matching and sanction screening

 

About us

Incentage is an independent provider of messaging solutions for the financial market. Companies like Euronext, Credit Suisse, Nomura, or Strate rely on our products to integrate, monitor, and make applications and message flows in payment and securities processing accessible to users. Incentage has been well established in the financial market for over 20 years and is well known for software products that are flexible and help clients to stay on the ball in a rapidly changing environment. For us, customer orientation means that results are more important than processes and hierarchy.

With a 40-hour working week in the flexitime model and mixed home-office/presence plan, Incentage offers a salary in line with the market, extra-mandatory participation in the pension fund, no deductions for UVG, and a variety of smaller goodies such as free parking, free SBB half-fare cards, free drinks, and much more.

Interesting in getting to know us?

Don’t hesitate to contact Nina Rebsamen on +41 43 355 86 00
or by e-mail: nina.rebsamen@incentage.com

We look forward to hearing from you!

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Senior Software Engineer Java 80%-100%
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Senior Software Engineer Java 80%-100%

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Wechsel zu T+1 in Europa – Nichtstun ist keine Option

Wechsel zu T+1 in Europa – Nichtstun ist keine Option

Wechsel zu T+1 in Europa – Nichtstun istkeine Option

Wenn der US- und der kanadische Markt im Mai 2024 von einem Settlement-Zyklus von T+2 auf T+1 umstellen, geschieht dies aus verschiedenen Gründen:

- Schnellere Verfügbarkeit von Liquidität
- Kostenersparnis (Kapital ist weniger lang gebunden)
- Risikominderung (Verkürzung ist positiv für mögliche Marktveränderungen im Settlement-Zyklus)
- Stabilität (Reduzierung der Gegenpartei-Risiken)
- Modernisierung der Infrastruktur (Verkürzung zwingt Marktteilnehmer zu verbesserten Prozessen und Technologien)

Und was macht Europa? In Europa, wo die Infrastrukturen sehr fragmentiert sind, gestaltet sich ein Wechsel zu einem T+1 Settlement-Zyklus als komplizierter. Der Anteil an grenzüberschreitenden Transaktionen europäischer Banken ist hoch.
Zwischen den relevanten Infrastrukturen existieren gut eingespielte Prozesse, die im Grundsatz mit T+2 gut funktionieren. Die Herausforderungen für einen Wechsel zu T+1 wären signifikant, insbesondere im internationalen Umfeld, wo die Fristen für die Bereinigung von Unstimmigkeiten bereits sehr kurz sind, wenn man nur schon die Zeitdifferenz zwischen den USA und Asien oder zwischen Europa und Asien betrachtet.
Eine weitere Schwierigkeit ist der FOREX-Markt, der noch immer auf T+2 funktioniert, was bedeutet, dass Käufer ihre Liquidität früher bereithalten müssen. Eine Einführung von T+1 hat in Europa auch erhebliche Auswirkungen auf die Handhabung von Corporate Events. Eine Verkürzung der Settlement-Fristenwürde die Risiken erheblich erhöhen.

Sind das Gründe genug, warum Europa nicht auf T+1 umsteigt? Meiner Meinung nach wird der Wechsel zu T+1 kommen, allerdings wahrscheinlich nicht in den nächsten 24 Wochen. Dennoch wird der Druck seitens des Marktes, der Investoren und der Regulierungsbehörden eine Verkürzung vorantreiben.

Was ist zu tun?
Sich mit dem Gedanken an T+1 anzufreunden ist notwendig. Wie immer bei solchen Fragen stellt sich für jedes einzelne involvierte Institut die Frage, was sich ändern würde. Eine Bestandsaufnahme der sich verändernden Prozesse ist der erste Schritt. Der Abgleich, ob die Prozesse in der aktuellen IT-Infrastruktur standhalten würden, ist der nächste.

Die gute Nachricht: Die Incentage AG bietet mit ihrer modernen Low-Code-IT-Lösung Incentage IAP (Innovation AccelerationPlatform) bereits heute wertvolle Dienste in Nordamerika bei der Umstellung aufT+1 an. Mithilfe von Incentage IAP können ganze Prozessketten oder auch nur einzelne Prozessschritte problemlos auf die individuellen Bedürfnisse zugeschnitten und für eine Abwicklung mit T+1 vorbereitet werden. Dies ist möglich, ohne die bereits gut verankerte Infrastruktur vollständig zu ersetzen– es sei denn, dies ist gewünscht.

Und was ist, wenn plötzlich der Wunsch nach einem Atomic Settlement aufkommt? Dann ist eines sicher: Mit der Incentage-Software ist auch ein Wechsel von T+2 oder T+1 auf ein Atomic Settlement möglich und schnell umsetzbar. Bereits heute wird Incentage IAP für Atomic Settlement eingesetzt.
Einfach und schnell – Swiss-made Software macht es möglich.

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New Strategic Partnership with      Trask Solutions

New Strategic Partnership with Trask Solutions

Trask and Incentage to Innovate Banking Payments


Trask, long a leading provider of reliable technology innovation to the financial, insurance, telecommunications, energy and manufacturing industries, announced a strategic partnership with Incentage, a Swiss company specializing in software development for financial institutions. The main objective of this collaboration is to mutually strengthen business relationships and ensure innovation as well as faster, more efficient and secure payments.

In addition to similar areas of business and knowledge of the specifics of the financial sector, the two players share an interest in establishing themselves in global markets: Trask has already announced its expansion into North America and Canada, where Incentage recently opened an office in Toronto.

Pavel Riegger, CEO at Trask: "We are very pleased to collaborate with Incentage, which shares our vision to enable maximum flexibility in payment processing. Their products are modern and highly scalable, which will allow us to offer our clients the best possible solution to their payment problems."

Incentage CEO Felix Huber adds:
"Trask has established itself as a premier service provider in the financial industry, consistently delivering high-quality solutions. Incentage, a leading low-code-no-code software provider renowned for its Innovation Acceleration Platform, is joining forces with Trask. Together, we are poised to drive efficient and impactful innovations within the financial sector, offering value globally to our clients."

About the companies

Trask is a global technology company that has been specializing in developing technological innovations for leading companies around the world since 1994. Its expertise covers the areas of finance, insurance, telecommunications, energy and manufacturing.

The company has a team of more than 1,400 IT professionals with proven know-how and experience in large-scale projects. Its customers include Erste Bank, Société Génerale, ČEZ, VIG, KBC Group, UniCredit Services, Škoda Auto, VW, and Bentley. Trask is represented in the Czech Republic, Slovakia, Austria, Germany, Benelux, the United Kingdom, the United States, and Canada.

Incentage AG is a Swiss company, founded in 2002 with the mission to enable the financial industry to exchange transactions data flexibly, continuously and securely.

The Incentage IAP - Innovation Acceleration Platform serves as a robust foundation for payments processing, securities, collaterals, business activity monitoring and fraud prevention. Incentage customers span across commercial banks, central banks, insurance companies and national market infrastructures. Incentage serves customers in Europe, Africa, North America and LATAM.

Incentage is not only innovating in the area of payments, securities and Open Finance but also around tokenisation, crypto trading and custody, Defi, Blockchain and DLT. The Incentage software is in use for solutions where failure is not an option. The processing of highly critical financial transactions is in our DNA.

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New Strategic Partnership with      Trask Solutions
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New Strategic Partnership with Trask Solutions

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Class Room Training 2024

Class Room Training 2024

Class room training opportunity
May 13th - 17th, 2024
in Weggis, Switzerland

This is the best opportunity to hands-on learn the Incentage software from scratch including the most amazing view to the Swiss Alps as well as to the Lake Lucern. For experienced users it is an opportunity to refresh and enhance the know-how in the second part of the training.
This off-site training in the beautiful Swiss mountains helps you to develop a practical understanding with focus and fresh air.

Write now to edu (at) Incentage.com and ask for more information

What will you learn:
▪    Build a foundation with systematic knowledge creation
▪    Meet Incentageers from other companies
▪    Learn how to convert financial messages
▪    Learn JSON
▪    Learn APIs
▪    Learn Docker
▪    Learn Elasticsearch
▪    Must-knows for ISO20022 messaging
▪    Learn the Incentage IAP
(Innovation Acceleration Platform)

Ask us for the Training Schedule now. Write to edu (at) Incentage.com

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Class Room Training 2024
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Class Room Training 2024

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Can Cryptos already sit at the same table as the Grown Ups?

Can Cryptos already sit at the same table as the Grown Ups?

End of the year there is the traditional Swiss Payment Forum in Zürich. Two days full packed with experts sharing their know-how.
This year also Incentage will participate as speaker.
Our colleague Oscar Neira will explain to the audience why Banks should offer Crypto Trading and Custody.

"Can Cryptos already sit at the same table as the Grown Ups?" This is the question which Oscar wants to enlight. Means, is the Crypto Market grown up to be integrated in a high regulated Bank environment or not.

If yes, is it possible to make a Bitcoin or any other tokenized asset transaction from the Bank's Crypto Wallet "A" to another Bank's Crypto Wallet "B"? Sounds easy but can that be made over SWIFT and using the standard formats in ISO 20022? Let's see....

But why a Bank should offer Crypto Trading and Custody?

Oscar means for obvious reason. The clients demand it.
And if this is not enough, there is a clear trend coming from the Central Banks, worldwide. The Central Banks want CBDC's - Central Bank Digital Currency. Means soon or later the Banks need to know how to handle all the different Tokens like NFT 's, Crypto Currencies, digital Bonds, digital Shares and Derivatives and more.

So, why not starting now and give to the clients what they want?

Oscar will show use cases how such an integration of a Custody Applications can be done in to the Bank IT environment.

See his video inviting to the forum (in german): Video

Here the agenda

To follow the event in the socials search for #SPFZH22

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New offices in Toronto - Canada

New offices in Toronto - Canada

Incentage is growing rapidly

Incentage recently established a new complete operative office in Canada. One colleague, Thomas Arnold took over the first Canadian chair and desk in Toronto a couple of weeks ago.

As Incentage is growing very fast in North America as well as Central and South America it was just a matter of time until Incentage needed to start his own premises in this area of the world. With this step we want of to grow our client base.

But much more important than growing in number of clients is to provide an extraordinary service and support to our existing clients.
It is reasonable to be in the same time zone as our fastest growing client base where Incentage is building a highly skilled team of experts in IT and financial services.

But there are also operative viewpoints, because having an office in another continent makes a 24/7 support easier and brings resiliency to the company especially in these days.

And please note: Thomas is hiring -> Link to job post

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New offices in Toronto - Canada
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New offices in Toronto - Canada

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RTGS.global for Incentage Marketplace

RTGS.global for Incentage Marketplace

New partner for the Incentage Marketplace
Incentage partners with RTGS.global 

Incentage and RTGS.global starting a product partnership. The partnership is based basically on two layers:
One is that Incentage provides a RTGS.global network plug-in to all Incentage clients.
The other one is that Incentage provides a set of tools which helps non-Incentage clients to use, manage and integrate the RTGS.global API's extremely fast, secure and resilient.
Basically the banks get standard adaptors to connect to his core bank application as well as to other applications like archive, payment hub, market data.

"We are very happy to start this product partnership with RTGS.global a next-gen and very well-funded settlement and payments Financial Market Infrastructure with a terrific developer team. They enable wholesale instant Payment-vs-Payment (PvP) cross-border settlement in a very innovative way for every bank with a focus on emerging markets. A true Financial Market Innovation that solves the settlement challenges today, while preparing for tomorrow" say Felix Huber, CEO from Incentage.

"We are thrilled that Incentage can provide us and our clients a toolset which accelerates and makes the integration of our solution quick, efficient and painless. We strongly believe that this exciting partnership delivers enhanced, value add services and opportunities to market participants" says Dave Sissens, CEO from RTGS.global

About RTGS.global
RTGS.global makes global cross border settlement instantaneous, solving today’s risk and liquidity issues with the flexibility to address whatever settlement requires next.
Our Bi-Lateral Atomic Settlement technology is Financial Market Innovation, making settlement more effective, inclusive for financial markets and safer today, but also flexible enough to address the future challenges facing settlement.
We’re more than just innovation though, as our legal and operational framework and deep industry experience ensures we can deliver technology that fits within company and regulatory requirements, delivering a meaningful impact. RTGS.global

- Built for Now, but Designed for What’s Next.

Follow us on Linkedin and RTGS.com

About Incentage:
Incentage is a Swiss company, founded in 2002 with the mission to enable the financial industry to exchange transactions data flexibly, continuously and securely.
Our client base confirms that our mission meets a fast-growing international demand.

The Incentage innovation acceleration platform serves as a robust foundation for payments processing, securities, collaterals, business activity monitoring and fraud prevention.
Our customers span across commercial banks, central banks, insurance companies and national market infrastructures. We serve our customers in across Europe, Africa, North America and LATAM.
Incentage is not only innovating in the area of payments, securities and Open Finance but also around tokenisation, crypto trading and custody, Defi, Blockchain and DLT.

The Incentage software is in use for solutions where failure is not an option. The processing of highly critical financial transactions is in our DNA.

Follow us on LinkedIn and Twitter.

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RTGS.global for Incentage Marketplace
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RTGS.global for Incentage Marketplace

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New Strategic Partnership with Capco

New Strategic Partnership with Capco

Announcement
New Strategic Partnership with Capco

Capco and Incentage are announcing today a strategic partnership.
The aim of the partnership is to better serve mutual clients while Capco can provide Incentage Software trained and qualified specialists to Banks in Germany as well as in other countries.
Thanks to the Incentage IAP – Innovation Acceleration Platform, Capco will also be able to bring even more speed on the ground with consistent if not better time to market.

About Capco:

Capco, a Wipro company, is a global technology and management consultancy specializing in driving digital transformation in the financial services industry. With a growing client portfolio comprising of over 100 global organizations, Capco operates at the intersection of business and technology by combining innovative thinking with unrivalled industry knowledge to deliver end-to-end data-driven solutions and fast-track digital initiatives for banking and payments, capital markets, wealth and asset management, insurance, and the energy sector.

Capco’s cutting-edge ingenuity is brought to life through its Innovation Labs and award-winning Be Yourself At Work culture and diverse talent.

To learn more, visit www.capco.com or follow us on Twitter, Facebook, YouTube, LinkedIn, Instagram and Xing.

About Incentage:

Incentage is a Swiss company, founded in 2002 with the mission to enable the financial industry to exchange transactions data flexibly, continuously and securely.

Our client base confirms that our mission meets a fast-growing international demand.

The Incentage innovation acceleration platform serves as a robust foundation for payments processing, securities, collaterals, business activity monitoring and fraud prevention.

Our customers span across commercial banks, central banks, insurance companies and national market infrastructures. We serve our customers in across Europe, Africa, North America and LATAM.

Incentage is not only innovating in the area of payments, securities and Open Finance but also around tokenisation, crypto trading and custody, Defi, Blockchain and DLT.

The Incentage software is in use for solutions where failure is not an option. The processing of highly critical financial transactions is in our DNA.

Follow us on LinkedIn and Twitter.

 

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The benefits from meeting the ISO 20022 compliance deadline

The benefits from meeting the ISO 20022 compliance deadline

What are the benefits from meeting the compliance deadline on
ISO 20022

The ISO 20022 deadline on November 2022 is around the corner. The BankservAfrica SWIFT Bureau Team has taken important steps to help their customers going over this massive change.

The BankservAfrica SWIFT Bureau has partnered with Strate and Incentage AG for the
‘ICE - Incentage Conversion Engine’ module, which is based on the 'PIP- Payment Innovation Platform', to offer a revolutionary service that translates FIN (MT) messages into ISO20022 (MX) and SAMOS v8 standards sustainably.

Read the full article on the BankservAfrica Page by clicking this link
https://bit.ly/Incentage

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 ISO 20022 and the upcoming technologies like Bitcoin and other Cryptocurrencies

ISO 20022 and the upcoming technologies like Bitcoin and other Cryptocurrencies

SWIFT - ISO 20022 and the upcoming technologies like Bitcoin and other Cryptocurrencies

We have interviewed Andrei Cristea Technical Consultant at Incentage AG about upcoming technologies

Andrei, can you please explain in few and easy words what this ISO 20022 is?

Andrei: ISO 20022 is the language of the future for the financial word. That is the shortest description I can come up with. To go into a bit more detail, the XML based ISO20022 standard allows Financial Institutions to use richer data sets in a standardized fashion. This means that systems can consume messages with faster automation and resolution.

Why are people speaking about message transformation when they relate to this Standard?

Message transformation is a cost-effective solution for navigating the coming transitional phase from the soon-to-be legacy SWIFT FIN (MT) standard to the future ISO 20022 standard. It helps Financial Institutions to start using and testing the new standards while keeping their existing systems mostly untouched. As the transition phase ends and the challenges posed by moving to the new standards are overcome, the systems themselves will benefit from the time spent using the ISO 20022 standards and will incorporate the latest changes. This will make them fully compliant with the new ways of the financial world.

What kind of hurdles have you found doing such transformations in your different client projects?

The main challenge raised by doing the transformations is that we are working in a constantly evolving environment. The new standard must not only cater for existing products and situations, but must also face the following paradox in the financial world: As the landscape is more interconnected, data and systems become increasingly diverse. As such, the standards themselves must evolve to keep ahead of the needs of the world and the systems that use these standards have to respond fast to the changes. This is where the flexibility of our products comes into play, as this is what allows us to react very quickly and implement these changes.

There is also the aspect of variety in the implementation of the ISO 20022 standard across different systems. A message of the same type from SEPA or TARGET2 (T2) will not necessarily look exactly the same as one from CBPR+. Both systems are going to evolve separately and might end up with some changes in the future, which you have to take into account and keep track of. Thankfully, our solutions allow us to tackle this challenge in an efficient and robust way.

Now we found out that ISO 20022 brings a lot of benefits especially for cross border payments. But it’s still the old fashioned way of working while improving old technology and processes.
Why banks don’t change to a Blockchain based payment process or introduce Bitcoin as a new currency to the system. Do you have any thoughts on that?

Well, I would say that “old-fashioned” is not a bad thing in itself. There is still great value in the traditional way of message processing and there is still a lot of room for improvements that will generate even more value for it. So I would reason that the “old way” is going to be with us for a long time to come, especially if it is constantly improved and if it can meet the demands of tomorrow.

Blockchain technology, while not new by any means, is still in its infancy, in my opinion. It has to prove that it can be at the very least as resilient, secure and cost effective as its counterparts, before there is any talk about replacing them. This does not mean that blockchain technologies do not have tremendous potential, they absolutely do, but first they must prove it and they must also stand the test of time.

As it stands, I think that the blockchain technology will continue to evolve. New projects are being created every day, some are meant to be industry disruptors and I am sure they will be one day. I am very curious to see what the next year will bring for this segment of technology

Have you been working in a Blockchain payment project where Bitcoin or Ethereum or other kind of Blockchain Technology was involved?

In short, no. I have not worked in any blockchain related projects so far. I am following a few blockchain platforms as I think they will provide the most interesting projects in the coming years. These are Cardano, Solana and Polka Dot. Each have different approaches to solving the issues that blockchains are facing, such as decentralization, network processing speed, scalability and cost and I am excited to see which one will bring the most innovative and disruptive projects in the coming years.

What is your personal opinion: How is Incentage positioned in ISO20022 as well as in Blockchain / Cryptocurrencies?

I think that the solutions and the expertise that we bring to the table are what give us at Incentage an edge in dealing with the coming transition to ISO 20022. Flexibility, fast response times and communication are key aspects in this endeavour and I believe these are core values for us.

Blockchain and cryptocurrencies are still emerging concepts and technologies that may bring great value in the future, depending on their use cases and adoption. When the time comes for the financial world to embrace new concepts, we will definitely be there to support our customers and to provide them with quality products.

Thank you very much Andrei for your insights.

Here you can follow Andrei's LinkedIn Profile

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