SWIFT revolution is on the way

By November 2022, financial institutions worldwide will be exchanging payments in XML, the new ISO 20022 SWIFT format.

ISO 20022 is a new module aiming to create globally consistent messages across all business domains of the financial industry supported by a governance process.

Implementing this new regulation for banks and market infrastructures will proactively increase operational efficiency and connectivity, reducing fraud and manual errors.

With Finastra, your bank’s treasury can comply well ahead of upcoming deadlines and make migration easier through pre-configured messages through:

Scalability to match progressing messaging guidelines by supporting different versions of the same message
Reduction of settlement errors with in-built SWIFT message validation and rectification
Support for ISO 20022 in back-end processes in treasury and downstream systems (such as cash management, reconciliation, and matching)

Request your demo to understand how this transition will look and how we can support you.

Let’s make this journey together!

Request your demo

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