Addovation, a Nordic ERP services firm, has partnered with payments connectivity provider Cobase to help IFS Cloud and NetSuite customers meet tightening bank requirements for structured payment address data. The joint offering arrives as banks in Europe and beyond begin enforcing ISO 20022 fields that many corporate ERP installations are not yet configured to supply.
The regulatory driver
Swift and the European Payments Council (EPC) are phasing out fully unstructured addresses in ISO 20022 payment messages. Under the new rules, every international and SEPA payment must include at least the town and country of the sending and receiving parties in dedicated structured fields rather than free-text blocks. The original implementation deadline was November 2026, but both Swift and the EPC have since postponed it, with revised dates expected before year-end. The direction of travel is not in doubt: as of July 2026, Swift reported that nearly 60 per cent of payment messages still carried unstructured addresses, signalling a significant compliance backlog across the corporate sector.
The practical pressure, however, is arriving ahead of any revised global deadline. Some banks and jurisdictions are retaining earlier enforcement dates and are already rejecting or queuing payments that do not meet structured address requirements. Separately, euro-area banks have been verifying payee name against account number before authorising transfers since October 2025, under the Verification of Payee framework. Both measures put the compliance burden squarely on the corporate treasury and finance function: address data originates in supplier and customer master records held in the ERP, not in the bank’s systems.
The product architecture
Addovation’s proposition is built around a three-layer model. IFS Cloud or NetSuite remains the core business platform. Cobase sits between the ERP and the bank, normalising outgoing payment files and incoming bank statements into whatever format each bank requires. Cobase claims connectivity to more than 300 banks across more than 90 countries, which is the key selling point for multinational treasuries managing multiple banking relationships with differing local file standards and timelines. Addovation itself acts as the integration and managed-service layer, handling implementation and ongoing application management through a service it calls Addovation Engage.
Fredrik Wingren, chief revenue officer at Addovation, said: “Banks expect more from the payment data your ERP sends them, and the rules keep changing. We don’t think one platform should try to do everything. The ERP system stays at the core, Cobase handles the connection to your banks, and we make sure it all works together, from implementation through daily operation.”
Market context
The ERP-to-bank connectivity segment is contested. Established treasury management system vendors, bank-direct host-to-host connections and specialist financial messaging middleware providers all compete for the same corporate wallet. The ISO 20022 migration has sharpened demand for overlay services that can handle format translation without requiring companies to rearchitect their core ERP. Providers such as TIS (Treasury Intelligence Solutions) and several bank-affiliated connectivity platforms address similar use cases, so Addovation and Cobase will need to differentiate on the depth of their bank network, the quality of their address-data validation tooling and the speed of implementation for mid-market customers running IFS or NetSuite specifically.
The deadline uncertainty is a double-edged commercial factor. Extended timelines reduce urgency for buyers, but the banks that have retained earlier enforcement dates create an immediate pain point that a readiness-check offering can exploit. Addovation is leading with exactly that: a 30-minute structured-address readiness assessment intended to identify gaps in supplier address records and clarify which bank deadlines apply to a given customer’s payment flows. Whether that converts into pipeline at meaningful scale will depend on how quickly the broader corporate treasury community recognises that ISO 20022 compliance is an ERP data problem as much as a bank connectivity problem.
The post Addovation and Cobase Target ERP-to-Bank ISO 20022 Compliance Gap appeared first on The Fintech Times.
