The ISO 20022 standard has fast become the global messaging standard and the UK looks to continue the trend, with adoption into its modernised instant payment system.
‘Known as the New Payment Architecture (NPA), the initial plan is to upgrade the existing Faster Payments real-time rails, with an option to include the older Bacs system in the future.’
Source: https://www.pymnts.com/emea/2023/uk-to-modernize-its-real-time-payment-architecture/