The payments industry is in transition, converging from a wide variety of legacy message and data formats to ISO 20022: a common, global, end-to-end standard. Extra CBPR+ messages went live in November 2023, and we closed the year with a daily average exchange of 800K messages. ISO 20022 adoption is a cornerstone of the Committee on Payments and Market Infrastructures (CPMI) agenda to improve cross-border payments. We’ll continue to build on the great start made in 2023 and support the Swift…

Banks from both sides of the Atlantic have successfully exchanged payment messages for a faster cross-border payment as part of a proof of concept demonstrating the feasibility of synchronizing settlement across existing instant payment systems in one of the world’s largest currency corridors.

With its global reach, Swift GPI is regarded by banks as the natural place to collaborate and innovate cross-border payments

Correspondent banking is undergoing a data revolution. In coming years the community will make significant investment in improving the quality and richness of data in domestic and cross-border payments. Together we will reduce manual interventions and costs, improve automation and speed of settlement, better mitigate risks of financial crime compliance, and support our clients with faster reconciliation and business solutions. Welcome to our first edition of “ISO 20022 in bytes”, a new…

Welcome to the 4th edition of ISO 20022 in bytes. In this edition we’ve got a deep dive into how the German community is fostering harmonisation and interoperability of payments with CBPR+, by actively engaging in domestic and global working groups. Despite the unprecedented times we’re living through, the mobilisation of the Swift community to prepare for the adoption of CBPR+ (and HVPS+ for domestic payment systems) has been remarkable, with more than 60% having started their ISO learning or…