ISO 20022: March 2025 Deadline & Migration

ByCecilia

The International Organization for Standardization (ISO) has developed a universal standard for financial messaging known as 20022. This standard aims to create a common language for financial communications, improving efficiency, transparency, and straight-through processing of transactions. The March 2025 deadline signifies a critical migration phase for certain payment systems, specifically SWIFTs Customer Security Programme (CSP),…

ISO 20022 Deadline: March 10, 2025 Prep

ByCecilia

This date signifies the final deadline for the global financial industry to transition to the ISO 20022 messaging standard for cross-border payments and reporting. The standard itself defines a common format for financial messages, enabling interoperability and efficiency across various systems. It replaces older, less flexible formats like SWIFT MT, promising improved data quality, richer…