The eurozone’s transition to a new payment messaging standard, ISO 20022, has been a huge undertaking. How successful has the migration been so far, and were the years of preparation rewarded? As the industry gears up for more migrations across the globe, what can financial institutions in other countries learn from Europe’s experience?
Russia’s largest bank avoided being removed from Swift but was sanctioned directly by the US and UK governments and undermined by sanctions targeting Russia\'s central.