P27 compatibility with Crediflow
P27 is a joint initiative by Danske Bank, Handelsbanken, Nordea, OP Financial Group, SEB and Swedbank to establish a Nordic payment infrastructure for domestic and cross-border payments in the Nordic currencies and euros.
Crediflow follows developments closely and we are already helping companies and partners to convert to and support ISO 20022.
A Nordic venture
P27 Nordic Payments Platform is a Nordic investment where the goal is to create a common modern and future-proof infrastructure for payments in the Nordics. It is a bank-joint project where the purpose is to promote trade within and between the Nordic countries, among other things, by enabling real-time payments across borders.
The goal of P27 is more efficient payments in the Nordic currencies and the euro with one system. Standardization is one of the main objectives of P27 and therefore P27 is based on the ISO 20022 format.
Timeline
The P27 project will continue for several years and take place in several stages. The first part of the migration concerns payments in Swedish kronor within Sweden and runs during 2022-2024.
For more information and which bank connections already exist, contact info@crediflow.se
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