ISO 20022 Whispers

PmtTpInfo stands for Payment Type Information and identifies the payment type. Usage varies a lot between banks.

Ustrd RmtInf stands for Unstructured Remittance. If the remittance text is hard to parse, then automatic payment reconciliation becomes difficult and unreliable.

The length of individual data fields that a bank can process in its payment systems varies a lot. As a result, many string elements in ISO 20022 gets truncated when processed by the bank.

Flat files include a very limited amount of data. That makes them simpler - but also less useful for automated reconciliation, fraud checking, etc.

Structured addresses result in a lot less false positives for fraud and sanctions screening. If "Cuba Street" is included in an unstructured address it may trigger a false positive. If the same is included in a structured address street field, it will not.

CBPR+ is for cross border, HVPS+ is for High value payments systems. Read more https://www.ecb.europa.eu/paym/groups/shared/docs/711a7-2023-06-20-t2-cg-item-4.3.1-hvpsplus-and-cbprplus-differences.pdf