Description

In this episode of the Actualizing Success Podcast, Actualize Consulting managers Hunter Atchison and Wesley Rodenstine tackle the looming ISO 20022 address mandate, a topic that carries massive implications for treasury and payment professionals worldwide. Join Actualize Consulting’s experts as they discuss why ignoring this regulatory change could impede your organization’s ability to send payments, and get the clarity you need to prepare your systems and processes.

They clearly outline the changes taking place, explain the three address formats that you should know, provide real-world examples drawn from client projects, and give you a practical roadmap to compliance along with some insights regarding validation strategies and how to avoid expensive rejections. Whether you are a CFO, treasurer, treasury, or finance professional, if your team is involved in payments, this episode is your essential guide to navigating the ISO 20022 transition.

No time to listen? Here are the key actionable tips:

• Audit your data: Review all master/vendor bank account data and ensure address fields are structured, not just free text.
• Understand the formats: Learn the difference between unstructured, structured, and hybrid addresses, and when each applies.
• Mandatory elements: Always use ISO two-letter country codes and town names. Missing these is the #1 reason for payment rejections.
• Map for compliance: If you can’t move fully to structured addresses, work with your bank and systems to implement hybrid mapping as a transitional step.
• Validate before sending: Set up transmission validation rules in your TMS/ERP to block non-compliant payments before they reach the bank.
• Engage your banks now: Ask your cash management banks for their timelines and requirements so you aren’t caught off guard.
• Plan your transition: Inventory your top payment addresses, score for completeness, and create a remediation plan.

Tune in for an episode that turns a regulatory mandate topic into actionable steps and helps you keep your payments flowing smoothly.