**BREAKING: ioNova AI Launches Address Resolution Service for ISO 20022 Compliance**
ioNova AI today unveiled ioNova ARS, an artificial intelligence-powered address resolution service designed to convert unstructured payment address data into ISO 20022 standard messaging formats. The platform targets banks, corporates, and payment service providers struggling with compliance demands as global payment systems transition to the new standard.
The service addresses critical pain points around SWIFT CBPR+, High Value Payment Systems, and SEPA readiness, offering automated solutions to reduce payment friction and processing delays. Financial institutions face mounting pressure as ISO 20022 adoption accelerates worldwide, with legacy data formats creating compliance risks and operational bottlenecks.
ioNova ARS aims to streamline the data conversion process that has become a major cost center for payment operations teams. The launch comes as regulators intensify scrutiny on cross-border payment accuracy and messaging standards compliance.
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FXnCO Insight
** Payment providers and correspondent banks should evaluate ISO 20022 data automation solutions immediately to avoid costly compliance failures and transaction rejections as migration deadlines approach.
Source: Finextra