Get ready for November 2022
High quality payments data is becoming a reality. November 2022 marks the start of migration to ISO 20022 (MX) for cross-border payments and reporting (CBPR+), with a coexistence period with MT messages until November 2025.
Whether you’re adopting the standard from the start of the migration period or not, as a SWIFT customer, the mandatory action you need to perform before November 2022 is to upgrade your messaging interface (to ensure your messages are processed). Testing the receipt of multi-format MX messages (ISO 20022 + MT) generated by the In-flow Translation service on FINplus is also highly recommended.
To ensure you understand how all ISO 20022 changes will impact you and to help you get ready, we’re engaging with our community to outline all you need to know for November 2022. We are here to support your adoption journey as we move towards ISO 20022 go-live and coexistence.