ISO 20022 for IT service providers Ensure your software is QR-bill ready

Take the lead as an IT service provider and adapt your software to ISO 20022. By adapting your software, you’ll make it easier for UBS clients to issue and receive invoices.

What to watch out for

  • With the introduction of QR-bills, companies need to adapt their accounts payable / accounts receivable processes as well as the system landscape.
  • To comply with the Federal Act on Combating Money Laundering and Terrorist Financing (GwG), the software must be compatible with QR-bills and camt account reporting.

Step-by-step software conversion

Analysis

Ask yourself the following questions:

  • What impact will the adaptation have on my products and services and ultimately on my clients?
  • What types of messages and notifications are my clients working with today?
  • What requirements must additional software meet?
  • What potential do I want to take advantage of?

During implementation, make sure that:

  • The new requirements are integrated into your product development
  • Your software releases for the new adjustments are tailored to your clients
  • Your release planning is consistent with the migration plan of the Swiss financial center

For you and your UBS clients, this is easiest to do on the UBS Payment Standards test platform.

  • We recommend that you offer the software update to your clients by the end of Q1/2020 at the latest so that our joint clients still have enough time to test it on the UBS Payment Standards test platform. This will also leave time for any corrections before the introduction of QR-bills on 30 June 2020.
  • Please prepare for potential support requests from your clients. We help clients with any questions they may have concerning the UBS interface.

We provide an overview for our clients containing detailed information about supported formats and channel offerings of the individual software products. The individual software products can be found under “Factsheets on the software products”.

The documents are regularly updated. All of the information was provided by the software partners concerned and therefore we cannot guarantee that the information is correct.

Does your software comply with the new standard?

Does your product meet the ISO 20022 standard but isn’t yet listed with us? Or does it now support other formats and channels too? If so, please use the contact form to let us know.

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