CBA: Transition of interbank payments system to ISO20022 standard completed

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.