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 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.
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.