ISO 20022 CBPR+ compliance for third-party providers
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SWIFT is working closely with the Partner community to provide access to necessary information, specifications, tools and test services to support our shared customers in the adoption of ISO 20022, on-time and to the required standard.
Acting on feedback from the community, SWIFT will enable ISO 20022 messages for cross-border payments and cash reporting (CBPR+) businesses from the end of 2022, which extends the originally announced date by one year. This will provide financial institutions more time to select and work with third-party application and connectivity providers to ensure readiness.
Accordingly, this does not change customer expectations for application and connectivity providers to be ISO 20022 ready in compliance with the cross-border and reporting plus (CBPR+) guidelines by November 2020.
The end date to enable full ISO 20022 for cross-border payments remains as originally planned, November 2025. The coexistence period for current SWIFT MT messages and a new API-based exchange will run until that date.
Usage guidelines, the Vendor Readiness Portal & self-attestation
Vendors may download the Cross-border Payments and Reporting Plus (CBPR+) usage guidelines and test compliance using the Vendor Readiness Portal (VRP). Once valid messages have been received for all message types, application providers may complete and submit the self-attestation form.
The list of vendor applications that have self-attested as “ISO 20022 CBPR+ Ready” has been published and will be updated monthly, to enable financial institutions to make informed choices when making purchasing decisions.
To request access to the VRP or to submit the self-attestation form please contact us.
Integration Test Bed (ITB)
SWIFT will provide the swift.finplus!xpf service on the Integration TestBed (ITB) from September onwards. Registered Providers can find information on the FINplus service and instructions on how to subscribe by following this link to FINplus ordering on SWIFT.com. A ‘knowledge tip’ has been created to give more detail to both banks and vendors.
In addition, Registered Providers may apply for a SWIFT Compatible Application label to validate the compliance of their payments application. The requirements and process are published in the Knowledge Centre. In summary:
- Application providers must support FINplus starting from 2020 onwards (swift.finplus!xpf)
- Support of specific CBPR+ messages is recommended in 2020 and mandatory in 2021
- CBPR+ Phase 1 messages will be enabled on the FINplus service on the ITB in September for registered providers to test should they wish to do so, but this is not a mandatory requirement for Compatibility Labels in 2020
- 2021 Compatibility Label specifications will be published in Q1 2021 and are likely to include mandatory support of message types in scope of both CBPR+ Phase 1 and 2
SWIFT Compatibility Label Programme
The SWIFT compatibility label means an application complies with carefully defined requirements for SWIFT standards, messaging and connectivity - helping customers to choose with confidence.
Find out how to apply for a label of your application, or browse our directory of SWIFT Certified Applications for the solution that fits your business.
Further information for vendors
For more information or support in relation to ISO 20022 and CBPR+, please complete the form below and we will get back to you. If you have requested access to the Translation Portal, you will be contacted in due course.
Latest news on ISO 20022
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