For years, ISO 20022 has been seen as a compliance checkbox—a messaging upgrade with a looming deadline. But this lens is not only narrow, it’s dangerous. Because what’s hiding in plain sight is a once-in-a-generation opportunity to redefine how money moves.
ISO 20022 isn’t just about messaging. It’s about transformation. It’s the unlock code to a future where treasury becomes predictive, intelligent, and automated—a self-driving system that liberates your teams from manual drudgery and fuels strategic growth.
In his recent speech at BAFT, Matthew Parker-Jones challenged financial institutions to rethink ISO not as a project with an end date, but as a launchpad to a future state we’re calling the Self-Driving Treasury.
The Vision: A Self-Driving Treasury by 2035
What if your payments could think for themselves?
What if reconciliation happened automatically, before you even asked?
What if your treasury function had foresight—not hindsight?
The future state of transaction banking is powered by three forces:
- Rich, structured data (ISO 20022)
- Real-time access to that data
- Large Language Models and intelligent automation
Together, these form the nervous system of a Self-Driving Treasury—where decisions are made instantly, liquidity is optimized proactively, and people focus on strategy, not spreadsheets.
ISO 20022’s Hidden Superpowers
In his speech, Parker-Jones unpacked four “superpowers” that ISO 20022 could unlock by 2035 when used to its full potential:
- X-Ray Vision: Total transparency into payment flows, reducing delays and error-handling.
- Shape-Shifting: Smart payments that auto-adapt based on real-time cost, risk, and speed.
- Time Travel: Predictive cash forecasting driven by AI, not gut feel.
- Telepathy: Embedded finance that’s invisible, automatic, and insight-rich.
These aren't distant dreams for institutions that move beyond compliance thinking and embrace ISO as a strategic infrastructure catalyst today.
The Risk of Playing Small
Staying in “translation mode”—mapping MT to MX, one field at a time—is like using your smart phone just to make calls. You’re missing the power. You’re missing the point.
Winners in this space won’t be the ones who meet deadlines. They’ll be the ones who see the platform beneath the format—and build boldly on top of it.
Closing Thought
ISO 20022 is not the endgame. It’s the entry point.
The question isn’t whether you’ll adopt ISO. The question is: How far will you go with it?
Will you settle for compliance—or activate the superpowers? The future is self-driving. And it’s closer than you think.
Discover how Scotiabank is leading the way in payments modernization and explore how our expertise can enhance your treasury operations. Get in touch today to start your transformation journey.
