London-based fintech Nth Exception has launched Nucleus, a machine learning data fabric to ease financial institutions into ISO 20022 adoption.
Led by ISO 20022 payments specialist and managing director Akhil Rao, Nucleus will use AI to guide financial organisations into shifting to ISO 20022 and facilitate the restructuring of operations and payments systems.
Nucleus can pre-validate payee account information for international payments, validate Legal Entity Identifiers (LEIs), automate remittance data and structure unstructured postal addresses among other features.. The tool is aligned with Swift initiatives and the Bank of International Settlements’ commitment to ISO 20022 adoption.
Nth Exception has invited financial institutions to use Nucleus for proof-of-concept collaborations to discover the potential of the solution as a compliance asset.
Rao comments: “In a world where collaboration, innovation, and recognition define success, Nucleus stands as a beacon of progress, showcasing how partnerships, and an open invitation for collaboration can help move the industry forward.”
Nth Exception recently announced the availability of its ISO 20022 migration governance tool with IBM.