The new (old) standard for CBPR+ and other worldwide migration initiatives
ISO 20022 (MX) messaging is making rapid progress. Adoption is being driven forward by a wide range of major worldwide initiatives, such as:
Given the huge numbers of financial institutions that still rely on ISO 15022 (MT) messaging, the larger and more globally oriented banks will need to support both MT and MX for some years. This is ‘coexistence’, and its most challenging aspect is the need to reliably and accurately convert between MT and MX formats in both directions. For example, TARGET2 has migrated to MX, but its participant banks continue to communicate with many correspondent banks using MT formats.
Many banks also have legacy systems which can only handle MT messages, so MT-MX conversions are needed internally.
Transformer offers a complete solution that fully solves the complex issues involved in bi-directional mapping between MT and MX formats.