Payments and ISO 20022 Test Automation
Banks, financial institutions, and corporates worldwide are racing against time to transform their payment systems in line with SWIFT CBPR+ and multiple clearing-scheme-specific ISO 20022 specifications and deadlines.
Validating and creating schema-compliant messages
for ISO 20022 can be a daunting task!
for ISO 20022 can be a daunting task!
Validata seamlessly supports all use cases for message formats
from any payment scheme, simplifying the testing process.
from any payment scheme, simplifying the testing process.
Complexity of Message Formats
ISO 20022 messages can be highly complex, containing a wide range of fields and attributes. Testing teams must navigate this complexity to ensure accurate validation and processing.
Variety of Message Types
ISO 20022 encompasses a broad range of message types for different financial instruments and business scenarios. Testing teams must handle a diverse set of message types, each with its own validation rules and processing logic.
Interoperability
Testing interoperability involves validating message exchange formats, routing, and compliance with messaging standards across different systems and networks. Ensuring seamless communication between parties is essential for successful ISO 20022 implementation.
Regulatory Compliance
Banks and financial institutions must comply with regulatory requirements governing ISO 20022 messaging, including data privacy, anti-money laundering (AML), and KYC regulations. Testing teams must ensure that messages adhere to these regulations.
Message testing simplified
Validata provides a complete, AI-powered end-to-end testing solution powered by AI, machine learning and analytics that allows organisations to simplify and accelerate their payments and ISO 20022 testing.
The platform can generate synthetic payment messages for ISO 20022 incoming and outgoing as well as single click import of existing messages. It has a built-in message catalogue with messages grouped and categorized, and is able to validate and create schema-compliant messages.
The platform can generate synthetic payment messages for ISO 20022 incoming and outgoing as well as single click import of existing messages. It has a built-in message catalogue with messages grouped and categorized, and is able to validate and create schema-compliant messages.
Capabilities
Test and validate messages to verify compliance with ISO 20022 standard
Pre-built composable end-to-end test scenarios for incoming and outgoing Swift Messages
Synthetic test data generation for all ISO 20022 Messages
Generate geography-specific synthetic payment messages for multiple scenarios
See and compare truncated data between messages like Address, Legal ids, purpose codes etc
Integration testing for different systems and configurations that need to be tested for compatibility, through smart API integrations.
One single test portal for your end-to-end testing, covering Message, API, payments, and core banking testing
Continuous regression tests to ensure quality
Integrated Risk-based Methodology
AI-automated defect detection and root cause analysis
Benefits
One ‘super’app’ to test all payment messages
Whether it's CBPR+, High-Value payments (HVPS), Real-Time payments, or Mass & Retail payments, Validata supports all payment schemes.
Faster test cycles & Increased test coverage
Automated testing enables faster and more frequent test cycles as well as many more scenarios and use cases in much less time than manual testing, reducing the overall time required to test clearing systems. This is especially important for ISO 20022, which can be very complex and require a lot of testing.
Comprehensive Validation and Creation
Cover both validation and creation of ISO 20022 test messages within a single solution, streamlining your testing process
Cost savings:
Simplify test message creation with unprecedented ease, achieving significant savings in costs, time and effort.
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