SWIFT community to embark on migration to ISO 20022 for payments traffic
Swift announce plans to migrate their payments traffic from MT (Categories 1, 2, and 9) to ISO 20022 starting November 2021 with the plan to turn off these MT messages on the Network by 2025.
This will require Participants to plan how their systems can migrate to ISO 20022 and the most cost-effective way of doing this.
The good news is that if this announcement affects your plans to migrate to ISO 20022 then Transformer has the solution (and a wealth of experience in this area) you need and can help now to achieve this goal.
Transformer offers a complete solution which fully solves the complex issues involved in bi-directional mapping between MT and MX formats.
To find out more on the solution that is already being used globally by participants ranging from Tier 1 institutions to small regional banks then this is an ideal starting point