ISO 20022 – SWIFT delays the start of the cross-border migration

SWIFT has announced a 12 month delay to the start of the ISO 20022 migration, with the board announcing the following:

‘Acting on feedback from the community, SWIFT will enable ISO 20022 messages for cross-border payments and cash reporting businesses starting from the end of 2022, which extends the originally announced date by one year, so that banks can adopt at their own pace, and reduce the total industry costs of realising the benefits of ISO 20022 together with the new platform.’

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