Banks add their own features to the spec - imagine they want to add a new "Bank only" attribute that makes their XML schema differentiated and better in some way.
ISO20022 / XML allows this to be possible without breaking anything. In the past payment formats used to be fixed width text files - impossible to change or improve functionality for
ISO20022 / XML allows this to be possible without breaking anything. In the past payment formats used to be fixed width text files - impossible to change or improve functionality for