How Bank of America Is Modernising EMEA Payments

Why It Matters

The modernization agenda will reshape European corporate treasury operations, delivering faster, more secure payments while forcing firms to align technology investments with evolving regulatory standards.

Key Takeaways

• Bank of America drives ISO 2022 and SEPA instant migrations
• Emphasizes on‑time payments over universal real‑time adoption for clients
• Fraud mitigation tools like Confirmation of Pay deployed across Europe
• European regulators push innovation through instant‑payment mandates and PSD3
• Cross‑border optionality and harmonized KYC/AML expected across EU by 2027

Summary

Bank of America’s EMEA transaction‑banking head, Chris Json, outlined the firm’s roadmap for modernising payments across Europe, the Middle East and Africa. The agenda centers on industry‑wide infrastructure upgrades – notably the ISO 2022 migration and the imminent SEPA Instant deadline – as well as new fraud‑prevention tools such as Confirmation of Pay in the UK and Verification of Pay across Europe.

The bank is balancing two divergent client needs. Some tech‑savvy, API‑native firms demand real‑time, instant settlements, while legacy‑heavy corporates still rely on batch processing and prioritize on‑time, cost‑effective payments. Json stressed that instant payments are not universally required yet, and that banks must help clients justify the business case before they invest in costly new infrastructure.

A memorable anecdote linked today’s payment evolution to the historic role of the post office stamp, underscoring the drive for faster, cheaper, and more secure transfers. He cited Brazil’s Pix rollout as a cautionary tale of rapid adoption paired with fraud spikes, and highlighted the upcoming cross‑border optionality enabled by ISO standards, a common KYC/AML framework by 2027, and the PSD3/open‑banking enhancements.

For corporates, the push promises smoother cash‑flow management, reduced settlement risk, and broader payment‑method choices. Yet success hinges on coordinated regulator‑driven standards, strategic partnerships with fintech disruptors, and measured client investment to unlock the full value of real‑time payment ecosystems.

Original Description

How are ISO 20022 and SEPA Instant reshaping the future of payments in Europe?

At Sibos 2025, Chris Jameson, Head of Product Management for Global Payments Solutions (EMEA) at Bank of America, explains how financial institutions are modernising payments infrastructure across the region.

Two major developments are driving change: the adoption of ISO 20022 payments standards and the EU’s Instant Payments Regulation, which aims to create parity between traditional SEPA Credit Transfers and SEPA Instant payments.

ISO 20022 introduces richer, structured data into payment messages, creating new opportunities for corporates, banks, and treasury teams to improve reconciliation, transparency, and operational efficiency.

Jameson also highlights the importance of fraud prevention alongside speed. Tools such as Confirmation of Payee in the UK and Verification of Payee across the EU are becoming essential safeguards as real-time payments scale.

However, not every business requires instant payments. Many organisations benefit from what Jameson calls “on-time payments” — matching payment speed to operational needs rather than defaulting to real-time rails without a clear business case.

The discussion also explores how Europe’s regulatory leadership, innovative corporates, and competition from fintech entrants are accelerating payment innovation. Markets like Brazil, with the rapid growth of PIX, demonstrate both the potential scale of real-time payments and the need to deploy fraud protections simultaneously.

Looking ahead, cross-border instant payments are expected to grow as ISO 20022 provides a common infrastructure, while upcoming regulatory changes — including EU-wide AML/KYC harmonisation and the PSD3/PSR package — could further reduce friction and advance open banking across Europe.

This interview is essential viewing for payments strategists, treasury professionals, banking technology leaders, and fintech innovators following ISO 20022 migration and real-time payments evolution.

Explore the complete conversation with Bank of America on ISO 20022 adoption, SEPA Instant payments, and the future of EMEA payments infrastructure :

https://ffnews.com/fintech-tv/event/event-videos-2025/sibos-2025/bank-of-america-modernises-emea-payments-with-iso-20022-sepa-instant/

@SibosTV @BankofAmerica