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Euromoney consults iGTB’s payment expert David Dunmire

David DunmireSpeaking in two articles in the same issue of Euromoney, David Dunmire – senior vice-president, product solutions, iGTB – shared his views around real-time payments and ISO 20022 messaging.

In “Challenging Times: Real-Time Payment
Systems”, David examines the global development of real-time payment systems, as well as the accompanying challenges. In particular, high-processing volumes and the introduction of a risk-scorying system may slow the overall processesing experience, and “in this case, banks must consider both their risk appetite and ability to implement controls at others points”.

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David also contributes to “On message: ISO 20022”; an exploration of the messaging standard’s potential to benefit both regulators and the regulated.  Describing the benefits, David states that “where the standard has been implemented, customer transaction details are readily available. When used in conjunction with centralised transaction processing systems such as transaction hubs, financial insitutions have a powerful tool for meeting regulatory reporting requirements”. That said, ISO 20022 is by no means the only consideration when entering the realm of payment processing, David points out, with other factors including “access to origination channels (such as central bank connectivity and various payment processing systems), support infrastructure and investment”.

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