Adopting the new global standard for payments is more important than ever. As the financial industry moves closer to the CBPR+ November 2025 deadline, it’s time for all institutions to accelerate their ISO 20022 adoption journey.
Upgrade your infrastructure: Make the leap to ISO 20022
In this edition, you can look forward to updates on what to expect when the MT/ISO 20022 coexistence period ends for payments instructions, news on all the new Transaction Manager updates, and details about our upcoming ISO 20022 webinars to help guide you through the project stages before we go live.
Plus, don’t miss out on our upcoming LinkedIn Live session in November, where thought leaders will share adoption strategies and success stories from institutions across the globe. And for those attending Sibos, be sure to explore the Standards Forum for in-depth ISO 20022 discussions or join us live and on-demand with a digital pass to the event in Beijing.
How ISO 20022 is helping BNY navigate the future of payments
We’re entering a critical phase of the global ISO 20022 adoption. With the end of the MT/ISO 20022 cross-border coexistence period coming in November 2025, Fedwire scheduled to migrate in March 2025, and multiple post-migration milestones on the horizon in 2026, we spoke to Isabelle Bouille from BNY about their journey to ISO 20022 adoption to learn lessons from their experience and pick up any hints and tips that might be helpful.
Stay ahead with our ISO 20022 webinars
We’re hosting regular webinars to keep you updated on all things CBPR+ and help you get ready for the end of the coexistence period. Our recent session on 24 September covered project steps and contingency planning and will be repeated on 16 October. In December, we’ll focus on testing activities.
Don’t miss out - register today!
Plus, we’re offering both virtual and in-person ISO 20022 and CBPR+ training sessions worldwide. Check out our training catalogue to find the perfect fit for you. And if you’re looking to dive deeper into the CBPR+ migration, Swift Smart offers plenty of learning modules you can explore anytime.
What happens when payments coexistence ends?
The final phase of ISO 20022 migration is in sight! As of 22 November 2025, the coexistence period for cross-border bank-to-bank payment instructions will come to a close. Here’s what you need to know:
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Unsupported MT messages
After this date, the following MT messages will no longer be processed and will be immediately Negatively Acknowledged (NAK’ed): MT 101 (Multiple Instruction), MT 102, MT 102 STP, MT 103 REMIT, MT 201, MT 203.
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Contingency processing
Certain MT payment instructions (MT 101 Single, MT 103, MT 103 STP, MT 200, MT 202, MT 202 COV, MT 205, MT 205 COV) will be subject to chargeable contingency processing. After validation, messages will be converted to the ISO 20022 format and delivered via FINplus.
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In-flow translation
This service will still be available but will become chargeable. Institutions may deactivate the service for eligible traffic received via FINplus.
Please note: These measures are temporary solutions – the priority remains on community-wide ISO 20022 adoption.
For more details, see Knowledge Base article 6000054.
What’s new with Transaction Manager?
Exciting updates are coming to Transaction Manager with the November 2024 Standards Release. We’re introducing two brand new business processing rules, updating an existing rule, and enhancing our data integrity with a new rule as well as updates to two more.
These changes have been live in the Pilot environment since July, so now’s the perfect time to get started.
Check out Knowledge Base article 6000217 and the Transaction Manager - Advanced Information Business Processing Rules to review what needs to be done and ensure you’re ready to go live this November!
Payments Market Infrastructures (PMIs) and ISO 20022 migration
Great news! So far, 16 Payments Market Infrastructures (PMIs) have fully migrated to ISO 20022, and an additional 5 are in their coexistence phase. Together, they account for over 70% of the total PMI traffic on Swift.
For those still on their migration journey, our ISO Accelerator Pack is available to help fast-track the transition. We’re excited to support all PMIs in meeting their ISO 20022 ambitions, ensuring a smooth migration process aligned with Swift’s coexistence timeline.
PMPG market guidance and learning resources
Since late 2023, the Payments Market Practice Group (PMPG) has been publishing market guidance papers to help the community make the most of rich, structured data elements.
In addition, we’re launching a series of ‘data quality explainer’ articles on swift.com. The first one is already live and focuses on the postal address element.
Get ready for Standards Release 2024 and beyond
Standards Release 2024
Two new CBPR+ messages – camt.105 (charges notification) and camt.106 (charges request) – are now available for testing on the FINplus Pilot Future service and will go live during the weekend of 16-17 November 2024.
Standards Release 2025
Looking ahead to Standards Release 2025, the CBPR+ workgroup is working hard on Usage Guidelines for camt.025 (“receipt”) and admi.024 (“correspondence”). These are set to be published by the end of 2024, so stay tuned for updates!
Exciting ISO 20022 capabilities coming for corporates
With Standards Release 2024, we’re bringing ISO 20022 functionality to our Standardised Corporate Environment (SCORE) and enhancing how banks and corporates communicate.
These new capabilities will allow richer data capture at source and extend FINplus for payment initiation between SCORE corporates and their banks. We’re also evolving GPI for Corporates, ensuring consistent payment tracking data across corporate customers, no matter where they are.
Check out the upcoming Usage Guidelines, our support page on the Knowledge Centre, and stay informed with our latest webinars and FAQs!
Transforming exceptions and investigations handling
We’re significantly enhancing our Case Management service to transform how banks handle exceptions and investigations and ease the migration from unstructured MT messages to ISO 20022-based structured messages.
You can already begin using the GUI channel this year without needing any IT setup, to get familiar with all of the existing investigation types. For those looking to integrate messaging or API channels, the early adopter programme kicks off in 2025.
By November 2026, all banks will fully migrate to ISO 20022 for E&I workflows.
Check out Knowledge Base article 5026406 for more info.
Unlock the power of your ISO 20022 data
Our new Data Quality Analytics, which launched at the end of September, helps banks easily assess and monitor the quality of their ISO 20022 data.
It’s a web-based reporting tool that allows you to review key data elements, including parties, agents, regulatory reporting, and remittance info, and ensures you’re using the best structured, most valuable data.
Want to learn more? Reach out via data.quality.analytics.generic@swift.com or check out our Business Intelligence section on swift.com.
CBPR+ self-attestation renewal 2024: Key dates for partners
Calling all partners! The window for renewing your CBPR+-ready application self-attestation opens on 1 November 2024. Please remember that you have until April 2025 to renew. All listings not submitted by then will be removed in the first week of May 2025. Make sure your payment application is compliant with usage guidelines for .pacs and .camt messages.
Want to know more? Check out Knowledge Base article 6000192 for all the information you need.
[Ebook] Supercharge your payments business with ISO 20022
Leading financial institutions share insights on the concrete benefits opened up by ISO 20022’s rich, structured data capabilities.
