ISO 20022 usage continues to gain momentum. Since the start of coexistence, an average of 620,000 ISO 20022 messages have been exchanged every single business day on our network. And this between 1,200+ sending institutions and 5,800+ receiving institutions in over 200 countries.
If you’d like to learn more, you can find a monthly summary of the key migration statistics in the ISO 20022 Document Centre.
And in just a few weeks, Transaction Manager will finish with its live traffic build-up. You can rest assured that the richer, more structured data of all in-scope payment transactions will be preserved from 29 September 2023 onwards. Further information about Transaction Manager, in particular our new quick start guide for Accessing Transaction Manager is available on the Transaction Manager support page.
Added to this, our value-added services, such as Swift’s Transaction Screening Service (TSS) and Payment Controls Service (PCS), continue to successfully process ISO 20022 messages related to CBPR+, as well as ISO 20022 messages exchanged with domestic Market Infrastructures.
Don’t get left behind! By using ISO 20022 now, you’ll be joining the thousands of other institutions already realising the benefits.
To delve deeper into the tangible benefits of adopting ISO 20022 now, we’ve worked in close collaboration with EY and several members of the financial community to produce a free-to-download ebook of actionable use cases to help you build your business case. Read on to find out more.
New ebook: Supercharge your payments business with ISO 20022
We're excited to announce the launch of a new ebook detailing real-life ISO 20022 use cases being used by financial institutions to supercharge their payments business today.
We asked early adopters to share their learnings and insights around the strategic opportunities ISO 20022 offers.
Learn more about what they said across six detailed use cases, from reducing false positives during sanctions screening and other operational efficiency gains, to opportunities to enhance customer experience and deliver new business value.
Sibos Toronto – 18-21 September
Whether you’re attending Sibos in Toronto or looking to tune in digitally, there’s a lot to discover on the Swift programme about the benefits of ISO 20022.
Supporting ISO 20022 adoption in domestic markets
This year major Market Infrastructures (MIs) went live with ISO 20022, and many more are announcing roadmaps and plans for adoption. We are continuing to support MI and their communities.
For MIs preparing to start the journey, you can check out the MI Adoption Guide and the MI Adoption Guide for Participants. And learn more about how our ISO Accelerator Pack provides a cost-effective and efficient adoption solution for your business.
Progress of CBPR+ Standards Release 2023
The CBPR+ Standards Release 2023 messages are available for testing on the FINplus pilot future service since July. The usual tools are available to support your testing activities:
- The Readiness Portal, to test the validity of your messages against the CBPR+ usage guidelines off network
- The Translation Portal, to test the translation rules between the MT and ISO 20022 format as defined by CBPR+
- The Swift Test Sparring Partner, to test the exchange of CBPR+ messages over the FINplus pilot future with a fictitious counterparty
Four of those new messages are covered by the In-flow Translation service: camt.058, camt.107, camt.108 and camt.109. By default, they are delivered as a multi-format MX message to the recipient. If you wish to receive such messages in plain MX format, you can deactivate translation by using this e-order form. For more information, see Knowledge Base article 5025810.
Scope of CBPR+ Standards Release 2024
The scope of CBPR+ Standards Release 2024 is currently defined as:
- Charges: four usage guidelines were designed for the camt.105 (notification) and the camt.106 (request) messages to cover two scenarios identified by the workgroup, 1. Reporting a single charge amount and, 2. Reporting multiple charge amounts.
- Exceptions & Investigations: The new camt.110 and camt.111 base messages have been finalised and the usage guidelines are under development.
Additional messages may still be added to the scope, and these will be confirmed in the next edition of our ISO 20022 in bytes for payments newsletter.
FINplus RMA bootstrap
The schedule of the next RMA has been updated: execution is now planned for 7 October 2023. FINplus authorisations will be bootstrapped for camt.107, camt.108, camt.109 and camt.058 messages, based on existing FIN authorisations for MT 110, MT 111, MT 112, and MT 292 respectively.
For users who opt in via the e-order form, FINplus authorisations for camt.052, camt.053 and camt.054 messages will also be created, based on an analysis of FIN Category 9 traffic. The due date for opting in has been extended to 8 September 2023.
Please see the RMA Portal Getting Started Guide document for more details.
Documentation and Learning
- While we have made some changes to the organisation of the Knowledge Centre, the MySwift page remains your first port of call. Make sure to review and update your bookmarks.
- Extra CBPR+ e-learning modules have been released on Swift Smart, with new learning curricula available.
- Swift Learning Services now also offer classroom training sessions that cover the CBPR+ SR 2023 messages. See the Swift Training Catalogue for more details and info on how to register.
- If you are involved in the relay of payments on behalf of customers through MT 101, you can find all resources related to the ISO 20022 Payment Initiation Relay Rulebook in Knowledge Base article 5026117.