ISO 20022 for banks

Industry initiatives, internal optimisation projects, and customer demand are driving more banks to adopt ISO 20022

Making the move to ISO 20022

Based on a business and technology impact assessment, you want to be able to make an informed decision about an ISO 20022 implementation roadmap for your financial institution.

Maybe the messaging standard is important to your corporate customers. Or maybe your bank needs to adapt to one of the securities or payments transformation initiatives currently shaping the industry. Whatever your reason for making the move, it’s essential to choose an approach which is suitable for your organisation and your goals.

You need to understand how different market infrastructure projects impact the implementation options for financial institutions. You need to evaluate the relative merits of a tactical versus strategic implementation.

Once these external and internal priorities are fully understood, you will be ready to build an ISO 20022 roadmap. This takes time and effort – so it’s important to understand the challenges and take advantage of industry leading support, products and tools.

Information paper

Best Practice for Successful Implementation of ISO 20022 for Financial Institutions

Customer charter

SWIFT’s ISO 20022 Harmonisation Charter

Factsheet

Building an ISO 20022 implementation roadmap
How can SWIFT help?

Your challenges

  • Understanding ISO 20022 market infrastructure initiatives
  • Communicating with internal stakeholders and securing the required budget
  • Overcoming variations between different market infrastructures and versions

Building an ISO 20022 roadmap is not always straightforward. You will need to understand market infrastructure initiatives and engage with relevant stakeholders. Securing the necessary budget and putting in place a strategy can take time and effort. You will also need to work with different message sets, market practices and different versions across the industry.

Our solutions

Global Financial Messaging

Value-added network for ISO 20022

Offering the highest level of reliability, availability and security, our network has a number of ISO 20022-specific features. These include validation, copy services and retrievals.

Interfaces and Integration

Interface products and tools

Our interface portfolio is fully ISO 20022-enabled. From helping you shield impact on your back-office, to allowing efficient ISO 20022 integration, we have solutions that fit your needs.

Training, Consulting and Operational Services

ISO 20022 Impact Assessment service

Our impact assessment service helps you make informed decisions about your ISO 20022 implementation roadmap.

ISO 20022 Solution Design service

Drawing upon our unrivalled experience of ISO 20022, we can help you design your strategic ISO 20022 infrastructure by applying an enterprise architecture approach.

ISO 20022 training

From web classes to customised on-site training events, access our portfolio of services to learn everything you need to know about ISO 20022.

Standards

Industry harmonisation framework

We’re working with market infrastructures to roll out ISO 20022 consistently across the industry and support a more predictable approach by reducing cost and risk when implementing ISO 20022.

Global market practice

Industry harmonisation matters to us. Developed with market infrastructures and market practice groups, global market practice provides the basis for a common implementation, reducing cost and risk across the financial industry.

MyStandards

Streamline the management of messaging standards and market practice within your organisation. Improve the on-boarding experience for your clients

The chosen partner for key ISO 20022 initiatives worldwide

  • Unrivalled ISO 20022 experience and expertise
  • Dedicated ISO 20022 network and messaging services
  • Unique ISO 20022 products and services range
Contact us