Many customer demand easier and more automatized process for settling customer payments. International Structured Creditor Reference would be a beneficial by this requirement to be implemented to D365.
European payments council has a white paper from this:
https://www.europeanpaymentscouncil.eu/sites/default/files/KB/files/EPC142-08-EPC-Guidance-on-Creditor-Reference-ISO-Std.pdf

Reference is based on ISO 11649 standard. There's already feature called Configurable payment ID. If Modulo 97 is added there, it would create the needed check digits for the RF-reference.

Here's also a guidance from Finnish Finance:
https://www.finanssiala.fi/wp-content/uploads/2021/03/Introduction_of_the_global_Structured_Creditor_Reference.pdf