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