Transforming exceptions and investigations

November 2025 saw the global financial community reach a major milestone, with the end of the coexistence period between MT and ISO 20022 payment instruction messages for cross-border payments and reporting (CBPR+).

This marked the start of a new era of richer, more structured payments data. It’s now time for financial institutions to focus on the next phase of the migration.

In addition to the removal of unstructured postal addresses, another focus area within the ISO 20022 migration is the transition of payment cancellation and exceptions and investigations (E&I) messages.

This process is beginning in 2026 with the gradual rollout of our Case Management solution for enhancing and streamlining exceptions and investigations. So how can Case Management deliver efficiency gains to our community? And what should your institution be doing to prepare for the upcoming requirements?

What is Case Management?

Last year, we launched our enhanced Case Management solution. Built on a foundation of ISO 20022, this network-agnostic solution leverages the standard’s richer, more structured data to streamline payment investigations 

Case Management includes the following two services, both of which harness the industry-wide unique end-to-end transaction reference (UETR) as well as features like smart routing and end-to-end tracking:

• Case Management for Exceptions & Investigations (Case Orchestrator) streamlines the E&I process through centrally orchestrating new ISO 20022 investigation request and response messages – the camt.110/111.
• Case Management for Payment Cancellations (Stop and Recall) allows banks to stop inflight transactions and request the return of payments, quickly and transparently. Features include UETR blocking to prevent further processing of the payment.

Where are we now?

In practice, the majority of E&I messages go through the largest financial institutions. To deliver value to the entire community, these institutions need to be onboarded to Case Management and ready to send and receive messages.

With that in mind, we’ve engaged with the largest financial institutions for E&I volumes to drive early adoption of Case Management. As a result, 50% of target institutions are either already live, or scheduled to go live by November 2026.

All of these early adopter banks are not only well positioned to benefit from the speed and transparency provided by Case Management but are technically prepared for the 2026 migration requirements.

What’s happening next?

By end of 2027, the whole community will be required to use both the Case Orchestrator and Stop and Recall service with ISO 20022 messages. This will be achieved in two stages.

November 2026

By November 2026, the community will need to adopt Case Management services as follows:

• Exceptions & Investigations (Case Orchestrator). Financial institutions will need to be able to receive camt.110 investigation requests (with an embedded MT 199) through Case Management. In-flow translation will enable non-Case Management users to process investigations through their FIN legacy channel (bilateral exchange of the MT 199).
• Payment Cancellations (Stop and Recall). Stop and Recall will be available to Case Management and Swift GPI participants and continue to support the exchange of MT and ISO 20222 format messages. Bilateral exchange of payment cancellation messages will remain available to all.

November 2027

In November 2027, in-flow translation support will end and the whole community will need to use ISO messages for both services:

• Exceptions & Investigations (Case Orchestrator). All financial institutions will need to exchange investigation requests and responses through Case Orchestrator. In-flow translation support will end.
• Payment Cancellations (Stop and Recall). All financial institutions will need to use Stop and Recall for payment cancellations of all underlying transaction types, exchanging messages over FINplus only (camt.056/029). Support for MT payment cancellation messages will end. 

More details on the transformation plan can be found on the Knowledge Centre.

How can you prepare?

It’s important to start preparing for this transition today. There are two approaches. Institutions can either become early adopters of Case Management or wait for mass enablement (reception of the camt.110). 

Option 1: Early adoption

Early adopters will be able to exchange payment cancellation messages via Stop and Recall and camt.110/111 investigation request and response messages via Case Orchestrator. They will also be able to start initiating investigations, reaching other live customers straight away, and the whole community from November 2026. 

By opting for early adoption, institutions can use Stop and Recall and Case Orchestrator before they become mandatory - meaning they can gradually transition their workflows while current processes remain available.

Option 2: Await mass enablement 

Receiving the camt.110 (with in-flow translation) 

Now that the migration to ISO 20022 is complete, all institutions should already be prepared to receive ISO 20022 MX messages. This covers the camt.110 investigation request message.

The Swift in-flow translation service enables the reception of a camt.110 with an embedded MT 199. Receivers can then further process the investigation using their existing legacy FIN channel (by replying or forwarding the MT 199 accordingly).

There will be no charge to use the service for camt.110 send and receive. However, in-flow translation is chargeable for payment instruction messages.

Testing capabilities will be made available in Test Sparring Partner later in 2026, giving institutions time to test receiving the camt.110 and responding with an MT 199, ahead of the November deadline.

This approach is particularly suited to institutions that are not planning to use the Case Management tool for E&I until a later date.

Conclusion: get started today

The journey to full adoption of ISO 20022 continues apace. With deadlines for E&I and payment cancellations on the horizon, the main decision institutions have to make today is whether to opt for early adoption or await mass enablement.

• Early adopters should review our Getting Started guide to understand the onboarding requirements and start their journeys as soon as possible.
• Non-early adopters should ensure systems are set up to manage in-flow translation and await testing capabilities to be made available in Test Sparring Partner.

Whatever your chosen approach, it’s important to make sure the relevant teams are aware of what is required. To find out more, contact your Account Manager.

Key resources

• The 3-year E&I Transformation Plan - KB Article
• Get Ready for November 2026 - Webinar Deck & Recording 
• Case Management participant banks list 
• CBPR+ Roadmap