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Ep584: ISO20022 became reality in March… how are banks coping?
Published 2 years, 10 months ago
Description
Philip Flood, Global Business Development Director - Regulatory & STP Services, Gresham Technologies
In March 2023 the migration to SWIFT’s new ISO20022 (MX) messaging standard for cross-border payments and reporting began, with a coexistence period with predecessor MT messages until November 2025. A number of domestic payments systems have also moved to ISO20022, including real-time gross settlement systems in Australia, Canada, Europe, and New Zealand. Robin Amlôt of IBS Intelligence speaks to Phil Flood of Gresham Technologies about how banks are coping with this brave new world… and what they still need to be doing.