In the next few years the Swiss payment transfer system will be harmonized throughout. This will involve bringing together very heterogeneous set-ups run by different financial institutions and unifying all the old formats, procedures, and payment slips on the basis of the globally recognized ISO 20022 standard. Gaps in the information flow will be closed, and the payment process will be digitized from end to end to make it much more efficient and economical for everyone involved. The harmonization initiative is the biggest financial infrastructure project to be undertaken in Switzerland in the last 30 years.
Activating Digital Switzerland is an information campaign initiated by PaymentStandards.CH, the Swiss financial institutions’ official mouthpiece for the standardization and harmonization of payment traffic. bd consulting provides PaymentStandards.CH and SIX Interbank Clearing with PR support.
The campaign is particularly geared to opinion leaders in politics and industry and business associations, and to consumer protection activists and members of the public. It shows what will change in terms of payment traffic overall for corporations and private individuals, and provides information on the reasons for the changeover, the benefits, and the challenges for business and the financial industry in Switzerland.