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ISO 20022 for Financial Institutions

Making the move to ISO 20022

The community made the decision in 2018 to move cross-border and correspondent banking from SWIFT MTs to ISO 20022 by November 2025, using usage guidelines provided by the CBPR+ group of experts.

Based on business and technology impact assessments, you need to decide on an ISO 20022 implementation roadmap to suit your situation, your vision and your needs.

The full picture

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

Understanding these priorities makes it easier to build an ISO 20022 roadmap, and you can rely on industry support, products and tools along the way.

Defining market practice for FI to FI payments & reporting

To define a common best practice in using ISO 20022 for FI to FI payments and reporting, we are facilitating the collaboration across representatives of the community with the Cross-Border Payments and Reporting Plus (CBPR+) group.

The working group, formed of international payments experts, will formulate global market practice, usage guidelines and translation rules for the adoption of ISO 20022.

The development of a standardised global approach will also help lower the implementation cost for the industry as a whole.

To see the CBPR+ usage guidelines, access MyStandards.

Access MyStandards

Messages covered by CBPR+

The following tables list the messages in scope of CBPR+ for implementation in November 2022. All usages guidelines and related documentation are published on MyStandards. For more information on the messages that are in scope of transaction manager Release 1, as well as in-flow translations, please refer to the Connectivity Guidance paper.

New ISO 20022 messages
Usage guidelines

pacs.002.001.10

(positive and status report on payment messages) 

Published

head.001.001.02 (Business Application Header) Published

pain.002.001.10

(Response to pain.001 Interbank)

Published
Existing FIN MTs
ISO 20022 equivalent
Usage guidelines

MT 101 relay

pain.001.001.09

(Interbank)

Published

MT 102

MT 102 STP

pacs.008.001.08

Published

MT 103 REMIT

pacs.008.001.08

Published

MT 103

pacs.008.001.08

Published

MT103 /RETN/

pacs.004.001.09

Published

MT 103 STP

pacs.008.001.08

Published

MT 192

camt.056.001.08

Published

MT 196 (Response)

camt.029.001.09

(ONLY as a response to camt.056)

Published
Existing FIN MTs
ISO 20022 equivalent
Usage guidelines

MT 200

pacs.009.001.08

Published

MT 201

pacs.009.001.08

Published

MT 202

pacs.009.001.08

Published

MT 202 (with reimbursement Agents – Fields 53 and 54)

pacs.009.001.08 - ADV

Published

MT 202 COV

pacs.009.001.08 COV

Published

MT 202 /RETN/

pacs.004.001.09

Published

MT 203

pacs.009.001.08

Published

MT 204

pacs.010.001.03

Published

MT 205

pacs.009.001.08

Published

MT 205 COV

pacs.009.001.08 COV

Published

MT 205 /RETN/

pacs.004.001.09

Published

MT 210

camt.057.001.06

Published

MT 292

camt.056.001.08

Published

MT 296

camt.029.001.09

(ONLY as a response to camt.056)

Published
Existing FIN MTs
ISO 20022 equivalent
Usage guidelines

MT 900

MT 910

camt.054.001.08

Published

MT 920

camt.060.001.05

Published

MT 940

camt.053.001.08

Published

MT 941

MT 942

camt.052.001.08

Published

MT 950

camt.053.001.08

Published

How can we help?

We are committed to making this transition as easy as possible for our community and provide consulting services to support you.

To support your operating environment in its adoption of ISO 20022, we have a comprehensive portfolio of flexible and customisable support and care services. This includes a comprehensive roadmap of when to expect key documents to help customers and vendors with their plans for ISO 20022 adoption.

resource
ISO 20022 Services

Is your vendor CBPR+ ready?

Access the list of vendors that have confirmed and shared their commitment to support the CBPR+ message collection, in addition to equivalent MTs.

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