Skip to main content
  • English
    Discover SWIFT
  • Español
    Descubra nuestros contenidos en español
  • Français
    Découvrez notre contenu disponible en français
  • 中文
  • 日本語


2023 is a key year for our community as we enter coexistence and continue the journey towards ISO 20022 for cross-border payments and reporting (CBPR). Find out what’s happening and when.

Our approach to ISO 20022 adoption

In line with the adoption timeline agreed with our community, we enabled ISO 20022 messages for cross-border payments and cash reporting businesses in March 2023. There’ll be an almost three-year period of coexistence for MT and MX, allowing early adopters to benefit from ISO 20022’s richer, structured data, and other banks to adopt at their own pace. We’ll also facilitate the interoperability of MX to MT with our central In-flow Translation service.

ISO 20022 adoption

Scope of the CBPR+ migration

The adoption of ISO 20022 messages for Swift cross-border payments and cash management messages (CBPR+) must be completed by November 2025, at which point category 1, 2 and 9 FIN messages will be retired from the many-to-many Closed User Group, known as the FIN service. We’ll continue to support domestic payment market infrastructures (PMIs) adopting ISO 20022, including major reserve currencies, TARGET2 and Eurosystem Market Infrastructure Gateway (ESMIG) for EUR, Bank of England (new RTGS) for GBP, MEPS for SGD, and 30 additional PMIs going live by the end of 2023. FIN messages will continue to be supported for securities

FINplus and market infrastructures

The new InterAct Store-and-Forward service, FINplus, carries CBPR+ and other ISO 20022 messages.

Please note that there is no service dependency between the timeline for the adoption of ISO 20022 for CBPR+, in the many-to-many FINplus service, and the ISO 20022 adoption programmes for PMIs. PMIs will engage with their communities on how to accommodate the richer ISO 20022 data that will originate from overseas and settle in the domestic RTGS.


Limited origination of rich data until November 2023

The PMPG have published a recommendation to delay the origination of rich data elements for cross-border payments until November 2023. Swift supports the PMPG guidance from this group of experts. In the event that rich data is part of a transaction during the first year of coexistence, the Market Practice for Data Integrity from the CBPR+ working group provides guidance on the roles and responsibilities for reporting missing or truncated information.

To support banks’ implementation of this Market Practice, we’ve developed a ’Rich Data Access’ feature as an enhancement of our Case Management solution and made it universally available to all users that may require access to rich ISO 20022 data.

Go-live on ISO 20022 for CBPR+ and the start of coexistence from March 2023

During the coexistence period, from March 2023, some financial institutions will begin sending ISO 20022 messages to gain the full benefits of richer, structured data. Other banks will migrate at their own pace, relying on central In-flow translation, or local translation services, until their back office is natively ready to process ISO messages. From March 2023, any bank can start sending MX messages, independently of their correspondent’s preferred channel (MT or MX). 

End of the coexistence period in November 2025

Cross-border payments and reporting MT messages will be decommissioned at the end of the coexistence period with a full move to ISO 20022 for CBPR. The exception is MT198/298, a proprietary format used by some financial market infrastructures.