About This Video
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Trade Treasury Payments (TTP)’s Joy Macknight spoke with Wim Grosemans, Global Head of Product Management – Payments and Receivables at BNP Paribas about the importance of strategic collaboration in payments innovation. Grosemans emphasised that banks should move beyond mere ISO 20022 compliance and leverage the full potential of their existing end-to-end, rich data infrastructure. He pointed out that instant payment platforms, widely adopting ISO 20022, offer a strong foundation to create enhanced value by combining these capabilities across the industry.
Grosemans also highlighted that innovation is not solely a technical challenge; local clearing communities must enable this new way of working to achieve truly frictionless cross-border instant payments. He framed strategic collaboration as an ecosystem effort involving banks, syndicates, corporates, and individuals, each contributing unique value.
The ultimate goal, he said, is to deliver a superior user experience by building ecosystem approaches that focus on end results rather than isolated components.
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Key Topics
- Banks now hold a complete, rich ISO 20022 data stack that can be used to create new value.
- Instant payment platforms worldwide already operate on ISO 20022, offering a foundation for cross‑border speed.
- True innovation requires ecosystem collaboration focused on improving the client experience.
Key Insights
Expert Analysis
Wim Grosermans highlights a pivotal moment for the payments industry. With ISO 20022 now embedded across major payment flows and instant payment schemes gaining global traction, banks have the tools to rethink how value moves across borders. The opportunity lies not in the technical standards alone but in how institutions collaborate with clearing systems, fintechs and corporates to deliver seamless, data‑rich and immediate payment experiences. His message is clear: innovation in payments is no longer a solo effort but a collective endeavour built around the needs of the client— Wim Grosemans
Key Findings
- ISO 20022 provides a unified data language that can support new payment services
- Instant payment schemes are expanding globally, creating opportunities for interoperability.
- Ecosystem collaboration is becoming a strategic necessity rather than an optional partnership.
- Superior client experience remains the ultimate benchmark for innovation.
Implications
- Banks that leverage ISO 20022 data intelligently can differentiate through transparency and speed.
- Cross‑border instant payments will depend on regulatory and clearing alignment across markets.
- Collaboration models will need to evolve, with shared responsibility across the value chain.
- Client expectations for immediacy will continue to shape product design and infrastructure investment.
Key Takeaways
- The future of payments will be shaped by how effectively the industry combines ISO 20022 data, instant payment infrastructure and ecosystem collaboration to deliver faster, smarter and more seamless client experiences.
