ISO Accelerator Pack
Helping Payment Market Infrastructures and their communities adopt ISO 20022 smoothly and efficiently while staying aligned with the latest HVPS+ usage guidelines and other global market practices.
ISO Accelerator Pack
A smooth journey to ISO 20022
ISO 20022, the data foundation for better payments, is being rolled out worldwide. By 2025, an estimated 85% of real-time gross settlement (RTGS) system payments will rely on ISO 20022. Many Payment Market Infrastructures (PMIs) are either already live using ISO 20022, or have plans to adopt it in the next couple of years.
But there’s a risk the landscape will become fragmented with PMIs creating different variants of the message standard for their domestic payment systems, which increases complexity and friction. PMIs, therefore, need a simple and harmonised way to adopt ISO 20022 in their domestic market, from creation and implementation through to maintenance.
Introducing the ISO Accelerator Pack
Swift has developed the ISO Accelerator Pack (IAP) to support PMIs and their communities in adopting ISO 20022 and to facilitate interoperability with cross-border payments.
It is an off-the-shelf solution that allows for seamless adoption of ISO 20022 and efficient maintenance of its message standards. By combining proven message specifications, a central validation service, predefined validation and translation libraries, tailored support and Swift standards expertise, it allows for a fast and cost-effective adoption of message standards compliant with HVPS+ and CBPR+.
As a rule, Swift supports the current IAP version and the immediately preceding version. PMIs are therefore recommended to remain aligned with the latest IAP version. For more information, please refer to the ISO Accelerator Pack - Release Management Principles.
Benefits at a glance
Faster implementation of HVPS+/ CBPR+ compliant specifications, validation and translations.
Alignment based on the adoption of common market practice.
Simplified provisioning of the SwiftNet service.
Effective adoption and maintenance by reusing an off-the-shelf solution.
Tailored support and Swift standards expertise.
Common and reusable implementation for participants connecting to multiple PMIs.
Key features
For PMIs
For PMI participants
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For PMIs
Usage guidelines derived from HVPS+, aligned with CBPR+
Message definitions in the ISO Accelerator Pack are primarily based on the HVPS+ market practices defined by a body of leading PMIs around the globe, and further aligned with CBPR+ guidelines.
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Specifications and off-network testing on MyStandards
The message specifications can be easily consulted and downloaded from a central repository, MyStandards. MyStandards also allows PMIs and their participants to test against the ISO Accelerator Pack message formats and validation rules.
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User Handbook
Provides detailed explanations of message definitions, conceptual payment business flow use cases and samples to support these. This is a guide to best practices to aid implementation of a domestic business payment process.
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SwiftNet Central Message Validation (MVal)
Enables central validation by Swift of payload content exchanged between service participants. Swift verifies whether the message conforms to the format and set of rules chosen by the service administrator and delivers the message to the receiver. Users receive a report when the validation is successful, or an error message with more details if not.
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Tailored support and Swift standards expertise
Assists PMIs in adopting ISO 20022 standards for their RTGS system and in implementing required Swift products and services.
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For PMI participants
Validation package
Includes message definitions and formats, which enables easier manual message creation, search, routing and GUI capabilities that can be tailored based on these definitions.
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MT/ISO 20022 translation package
Includes ready-to-use conversion libraries with pre-defined definitions of messages and validation rules, eliminating the need for time-consuming analysis and mapping design.
Want to find out more?
For more information, or to get started with the ISO Accelerator Pack, please contact your Swift account manager.