Addovation and Cobase Partnered to Solve Payment Data Issues
Corporate finance teams can use new integration tools to meet mandatory ISO 20022 structured address requirements.
Updated on Oct. 12, 2026 in Financial Services
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Addovation has partnered with Cobase to help companies transition to ISO 20022 payment standards, which require structured address data in financial messages. The integration services aim to address widespread ERP configuration gaps.
Why it matters
Banks are now strictly enforcing structured data requirements, and many legacy ERP installations currently lack the necessary field configuration to comply. This partnership provides a technical path to avoid payment rejections as global implementation deadlines tighten.
Cobase connects to over 300 banks across more than 90 countries to normalize payment files. As of July 2026, 60% of all payment messages still carried unstructured addresses, highlighting a significant compliance gap for businesses.
The players
Addovation
A software services provider focused on the implementation and management of IFS Cloud and NetSuite enterprise resource planning systems.
Cobase
A financial technology firm that provides connectivity and payment normalization services across a network of more than 300 banks.
Swift
The global financial messaging provider that sets technical standards for secure, cross-border bank-to-bank communications.
The details
The partnership combines Addovation's ERP integration capabilities for IFS Cloud and NetSuite with Cobase's connectivity platform. Cobase normalizes payment files and bank statements into the formats required by financial institutions. Meanwhile, Addovation offers a 30-minute readiness assessment to help organizations identify missing structured address fields within their existing ERP setups.
Timeline
October 2025: Verification of Payee framework implementation began in euro-area banks.
July 2026: Swift reported that 60 percent of payment messages carried unstructured addresses.
Before year-end 2026: Revised global ISO 20022 implementation deadlines are expected.
Market Landscape
This partnership addresses a technical compliance barrier in the mandatory migration to ISO 20022 payment standards. It follows the October 2025 rollout of the Verification of Payee framework in euro-area banks, which increased pressure on firms to ensure data accuracy.
Finance leaders should audit their current ERP configurations to determine if they can export required structured address fields before year-end deadlines. Operators currently relying on unstructured data formats should prioritize these systems updates to prevent future payment processing failures.
The takeaway
The move toward structured financial messaging is creating a new operational necessity for ERP systems to act as data gatekeepers. Operators should immediately conduct a readiness assessment to ensure their payment files meet the evolving formatting requirements set by global banking networks.
Further reading
For more on how payment infrastructure shifts affect corporate accounting, visit Financial Services.
Source note: This article includes information reported by The Fintech Times.
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