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Iso 20022 Guide

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33 views1 page

Iso 20022 Guide

Uploaded by

saurabhshekhar6393
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
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ISO 20022 for payments for

financial institutions

Get ready for the next


steps of coexistence

Background
Since March 2023, the way the Swift
community exchanges payments Next steps of coexistence
messages has been transformed
Now that the go-live for ISO 20022 adoption of ISO 20022 in preparation
with ISO 20022. This promises to
for cross-border payments and for the end of co-existence, and the
unlock huge opportunities for financial
reporting (CBPR+) has happened, retirement of Categories 1, 2, and 9
institutions, such as boosting
and the coexistence period has of MT messages in November 2025.
operational efficiency, enhancing
started, here’s what you can do to
customer experience, and enabling
be ready for the future. If you are new to Swift, or if you
innovative new services.
were not fully ready for the start
If you’ve already started sending of coexistence in March 2023, it’s
Get support
CBPR+ messages, we’re looking important to make sure that you’re
The Swift community decided to forward to seeing you progress able to run a messaging interface that
adopt ISO 20022 for CBPR+ in 2018 through your activation plans and supports the receipt and handling of
and the Swift Board approved plans increasing volumes. If not the case multi-format MX messages. It is also
to facilitate adoption. SWIFT’s related yet, we encourage you to start important that you have a working
ISO 20022 programme includes a suite planning and working towards native FINplus configuration that includes
of supporting documents. These set RMA authorisations.
out the steps to take concerning
implementation activities.

Access key supporting documents to


help you adopt ISO 20022
 etting Started
G I n-flow Translation Service Overview
An entry-level reference guide, listing Describes the logic of in-flow translation
the key project steps of adopting ISO from ISO 20022 business messages
20022-based exchanges over the to their equivalent MT, an illustration
FINplus messaging service. It highlights of the possible translation results, and
important considerations in moving from a full list of possible translation warnings
FIN to FINplus messaging and points and errors.
to more detailed information sources
for readers who wish to know more.  ustomer Testing Guidelines
C
Comprehensive customer testing
ISO 20022 Customer Adoption Guide guidelines for ISO 20022 and CBPR+
Expands on the Getting Started adoption and for assessing
document. It includes information on customer readiness.
learning resources covering ISO 20022
and the Cross Border Payments and  WIFT Test Sparring Partner for
S
Swift is a member-owned cooperative,
Reporting+ (CBPR+) guidelines, and on CBPR+ User Guide
providing secure financial messaging
services to more than 11,000 organisations,
how to configure and test messages A guide for users of the SWIFT Test
across the financial ecosystem, in almost over the FINplus service. Sparring Partner, the application to
every country in the world. For nearly five test the sending, receiving or relaying
decades we have delivered certainty, of CBPR+ messages over FINplus.
continuity and excellence by constantly
evolving in an everchanging landscape. In
today’s fast moving, increasingly connected
and challenging world, this approach has
never been more relevant. Access documents Further information
You can find all these documents in If you have further questions, please
swift.com our Knowledge Centre (mySwift login contact your Swift representative.
required).
July 2023

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