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.
CBPR+ usage guideline development phases
The CBPR+ group has published its Phase 1 usage guidelines on MyStandards; this schedule tells you what else is in the CBPR+ pipeline.
Existing FIN MTs |
ISO 20022 equivalent |
Usage guidelines |
Translation rules in Translation Portal |
Translation rules document |
Status |
| MT 103 | pacs.008.001.0x | Published | Published | Published | Completed |
| MT 102 ** / 103 REMIT | pacs.008.001.0x | Published | No translation planned | N/A | Completed |
| MT 202 / 202 COV | pacs.009.001.0x | Published | Published | Published | Completed |
| MT 200 / 201** / 203 / 205 / 205 COV | pacs.009.001.0x | Published | No translation planned | N/A | Completed |
| MT 102 / MT 202 (RETURN Flow) | pacs.004.001.0x | Published | Published (MX to MT 103 New - only) | Published | Completed |
| N/A | MT to MX out of scope | N/A | N/A | ||
| MT 102 / MT 202 (REJECT Flow) | Negative pacs.002.001.xx | Published | Published (MX to MT 199/MT 299 only) | Published | Completed |
| N/A | MT to MX out of scope | N/A | N/A | ||
| No equivalent | Positive pacs.002.001.0x | Published | No translation planned | N/A | Completed |
| MT 210 | camt.057.001.0x | Published | Published, MX to MT - Single only | Published | Completed |
| MT 900 / 910 | camt.054.001.0x | Published | Published | Published | Completed |
| MT 941 / 942 | camt.052.001.0x | Published | No translation planned | N/A | Completed |
| MT 940 / 950 | camt.053.001.0x | Published | Not required - guidance provided in UHB | N/A | Completed |
| MT 920 | camt.060.001.0x | Published | No translation planned | N/A | Completed |
| No equivalent | head.001.001.0x, v2 | Published | No translation planned | N/A | Completed |
** Single transactions only are allowed until further notice
Existing FIN MTs |
ISO 20022 equivalent |
Usage guidelines |
Translation rules in Translation Portal |
Translation rules document |
Status |
| MT 103 STP | pacs.008.001.xx STP guideline | Published | No translation planned | N/A | Completed |
| MT 103 STP EU |
pacs.008.001.0x STP EEA_EU |
Published | No translation planned | N/A | Completed |
| MT 204 | pacs.010 | Published | No translation planned | N/A | Completed |
| MT 104 | pacs.003 | Dropped & out of scope of CBPR+ | N/A | N/A | N/A |
Existing FIN MTs |
ISO 20022 equivalent |
Usage guidelines |
Translation rules in Translation Portal |
Translation rules document |
Status |
| MT 192 / 292 Cancellation Request | camt.056.001.xx - Cancellation Request |
Publication Q1 2021 |
To be confirmed | To be confirmed | In planning |
| MT 195 / 295 (Query) | camt.026.001.xx - Unable to Apply camt.027.001.xx - Claim Non Receipt camt.087.001.xx - Request to Modify |
To Be confirmed | |||
| MT 196 / 296 (Answer) | camt.029.001.xx - Resolution of Investigation | Publication Q1 2021 | |||
| MT 199 / 299 | TBC | TBC | |||
| MT 101 | pain.001.001.xx - Relay payment by banks | Publication Q1 2021 | To be confirmed | To be confirmed | In planning |
| MT 110 / 111 / 112 | New Cheques Messages | Publication 2023 | To be confirmed | To be confirmed | Planned |
| MT n90 / n91 | New Fee Messages | Publication 2023 | To be confirmed | To be confirmed | Planned |
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.
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.
Related content
Document centre
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MyStandards
A collaborative web platform to better manage global standards and related market practice.
Your route to ISO 20022 adoption and the CBPR+ usage guidelines
Now is the time to build the necessary expertise and capacity with your institution to plan...