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What’s the timeline for introducing transaction management capabilities?

Key milestones achieved in 2022 include the successful completion of the pilot in July and the beginning of community testing in September.

Release 1 capabilities will be implemented in our production live environment in November 2022, but without live traffic being processed at the outset. Traffic subject to transaction management processing will be built up incrementally during an activation period that begins at the end of May 2023 and finishes at the end of September 2023.

Transaction management introduces additional validation checks on transactions. Between the start of ISO 20022 CBPR+ migration on 20 March, and the start of the technical activation period, we’ll analyse the impact these checks will have based on live traffic and, if necessary, adapt the logic to minimise potential disruption before the start of the activation period.

Key highlights of Release 1 include:

  • The foundations to support seamless, frictionless and instant transactions.
  • Access to full rich transaction data, with built-in integrity and security.
  • Minimal disruption as each institution can adopt at their own pace.
  • Continued full support of existing Swift gpi and community service levels.
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