ISO 20022 enhances the quality and richness of data in financial messages, leading to improved processing efficiency (removing human manual intervention in messaging), better regulatory compliance, and enhanced customer experience. It also supports the global harmonization of payment systems; ISO 20022 schemas provide a high level of business validation, reducing the risks of sending or receiving incorrect data. For more details see https://www.swift.com/standards/iso-20022/iso-20022-standards