EXA41
— Send data to a third party —
Bank Wires Without Identity Leak
ISO 20022 wires carry full beneficiary identity to every correspondent bank — Polymonial wraps the message so identity decrypts only at the destination.
The problem to solve
Cross-border payment messages under ISO 20022 (pacs.008) carry full beneficiary identity end-to-end. A wire from London to Singapore via New York exposes the beneficiary's name, address, and account number to three correspondent banks. Each one stores those messages for AML retention, exposing the data to internal investigation teams, third-party screening providers, and any breach. The protocol's design assumes every correspondent is trustworthy with full identity; in practice, that assumption costs banks their highest-value clients to private bilateral channels.
The solution it enables
Polymonial wraps the pacs.008 message at the originating bank. Routing fields stay readable to the next-hop correspondent — they need them for routing decisions. Beneficiary identity is sealed and only the destination bank can unseal. Each correspondent verifies routing + AML attestation against the schema without seeing identity. Same SWIFT network, same ISO 20022 message format, same compliance posture — just selective decryption per hop.
What it looks like
A private bank sends a £4.5M wire from London to Singapore for a high-net-worth client. The route passes through New York and Hong Kong — three correspondent banks total. Today: each correspondent sees the client's full name, address, and the receiving Singapore account. After Polymonial: New York verifies the OFAC sanctions schema satisfied without seeing the beneficiary's name; Hong Kong verifies the routing without seeing identity; Singapore unseals identity at destination because their schema-bound role is final-credit settlement. The originating bank's HNW client's identity stops bouncing through every correspondent.
“ISO 20022 with selective decryption. The wire still routes; the beneficiary's identity stops bouncing through every correspondent bank.”