ISO 20022 MT- MX Transition

It is fast becoming a mandatory requirement for Financial Institutions to be able to process ISO 20022 MX messages. Aqua Global have supported the processing and creation of these messages for many years. The standard is 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 MX message types can present significant challenges for organization in regard to the adoption of these message types.

Aqua Global’s messaging hub provides a means to generate native ISO20022 messages directly from the bank’s core system. Alternatively, a message conversion framework is available to translate MT message formats into the new MX standards (and vice-versa) with ease and flexibility.

For Further information please click here: ISO 20022 – Aqua Global Solutions

Benefits

• No change required to your existing systems
• Reduces Risks
• Improves Operational Efficiency
• All ISO20022 standard changes are maintained on an ongoing basis

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.