Rich, structured payments data enables real-time processing of cross-border payments, fewer manual interventions, better tracking, improved fraud and sanctions screening, and regulatory reporting. Financial messaging network Swift is piloting a new blockchain-based network for cross-border payments with 30 banks. The announcement highlights that a growing emphasis on data richness and intelligibility across the marketplace is beginning to alter the economics and effectiveness of cross-border payments. Swift’s blockchain-based shared ledger focuses on streamlining real-time, 24/7 cross-border payments. Many, if not all, of the program’s partner financial institutions are also focused on accelerating the transition to ISO 20022 standards. The goal of ISO 20022 is to expand the quality and completeness of data carried in payment messages and ensure that data can be consistently interpreted in every jurisdiction. The accelerating adoption of the ISO 20022 global messaging standard has been a watershed moment. Its XML-based schemas allow more granular data to travel with each payment, replacing free-text fields with structured, machine-readable elements. For businesses, that means invoices can be matched automatically to incoming payments. For banks and regulators, it means real-time screening and monitoring are more reliable. For businesses, these shifts affect treasury strategy, like centralization, supplier onboarding and platform choices, and unlock automation and AI use cases.