As part of the project “Application of ISO20022 international standard in financial infrastructure” envisaged in the “Digital Payments Strategy of the Central Bank of Azerbaijan for 2021-2023,” the Central Bank has successfully completed the transition to the ISO20022 Azerbaijan real-time Interbank Payments System (AZIPS) standard, Report informs referring to the CBA.
As a result, a functionality was created for data exchange between information systems of AZIPS member organizations based on new formats that comply with the ISO20022 standard.