London-based fintech Nth Exception has launched Nucleus, a machine learning data fabric designed to assist financial institutions in adopting ISO 20022.
Led by ISO 20022 payments specialist Akhil Rao, Nucleus employs AI to help financial organizations transition to ISO 20022, facilitating necessary changes in their operations and payment systems.
The platform offers features such as pre-validation of payee account information for international payments, validation of Legal Entity Identifiers (LEIs), automation of remittance data, and structuring of unstructured postal addresses. It is aligned with Swift initiatives and the Bank of International Settlements’ commitment to ISO 20022 adoption.
Nth Exception has opened the door for financial institutions to engage in proof-of-concept collaborations using Nucleus, aiming to demonstrate its potential as a compliance asset.
Rao stated, “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.”
Additionally, Nth Exception recently announced its collaboration with IBM to introduce an ISO 20022 migration governance tool.