StructX: ISO 20022 Address Standardization Solution

As SWIFT mandates ISO 20022 compliance, financial institutions face the challenge of converting unstructured addresses into a compliant, structured data asset by November 2026. While a hybrid format is permissible until then, the final phase requires fully structured and validated address data. Currently, 15% of global payments require manual repair, costing $12.10 per failure, and 72% of firms rely on manual checks. Conventional programming struggles with the vast variation in global address formats, and rule-based approaches fail with unstructured, noisy, and inconsistent data, necessitating AI for accurate parsing and enrichment.

Our Digital Expert, built on Purple Fabric, automates the conversion of high-risk, ambiguous text into a compliant, structured data asset using AI. It extracts address data from any source or format, understands and classifies each address element (such as street and city), and enriches data where necessary (e.g., deriving city and country from postal codes). The agent structures the data into the precise, 14-field ISO 20022 schema and validates the output against postal databases like USPS and Royal Mail for accuracy.