ISO 20022 MT-MX Transition

It is fast becoming a mandatory requirement for Financial Institutions to be able to process ISO 20022 MX messages. The standard is also now being adopted by many global domestic clearing systems.

SWIFT have now confirmed their plans to phase out the MT1, MT2 and MT9 series of FIN messages in favour of the ISO 20022.The end-date to enable full ISO 20022 for cross-border payments remains as originally planned, November 2025 however the original start date has been moved back from November 2021 to November 2022.

How can Aqua assist?

Preparing for the mandatory introduction of the ISO 20022 MX message types can present significant challenges for an organization for many reasons. Aqua Global’s messaging hub provides a quick and cost effective solution to automatically process and generate native SWIFT messages (ISO 20022 and FIN). If required this will also provide an interface with a core accounting system.

Benefits

• No change required to your existing systems
• SWIFT CBPR+ ready Vendor
• All ISO 20022 and FIN standard changes are maintained on an ongoing basis
• Reduces Risks
• Improves Operational Efficiency

For Further information please click below:

Factsheet – ISO 20022: ISO 20022 – Aqua Global Solutions

White Paper – ISO 20022: Embracing the transition to ISO 20022

We can help you

If any of the latest initiatives are affecting you, then contact Aqua Global today at info@aqua-global-solutions.com or call us on +44(0) 20 8544 3200.