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A survey held in early 2023 indicated banks faced several technical issues related to the future adoption of rich data formats and message standardization. The main challenge banks observed was on whether they could, or will, create proprietary requirements with ISO . Proprietary requirements essentially allow banks to deviate from standardization, so as to create differentiation or to create more stickiness among their business consumers. Another often-mentioned challenge was the ability of businesses to consume the new data format. ISO is a new messaging standard for cross-border money transfers between financial systems and/or financial institutions, no matter where they are in the world. Banks have to be fully integrating into this new payment "language" by *** - a process that started in . This survey predated that process.