ISO 20022 Programme - SWIFT

ISO 20022 ProgrammeQuality data, quality payments

Awareness Webinar – ISO Overview

2

What is ISO 20022?

ISO 20022 Programme - Quality data, quality payments

3

What is ISO 20022?

Proprietary

MT

ISO 7775 ISO 15022 ISO 20022

Payments

Treasury & Trade

1973

Securities only

1984Securities only

1999 20042000

• Paper-based

• Proprietary syntax

• Point-to-point

• One size fits all

• SWIFT only

• Reference standard

• Electronic

• Open, neutral syntax

• End-to-end transaction

• Market practice

• SWIFT + other organisations

FIN MT:

Computer-processable

versions of telexes


ISO 20022 Governance Responsibility

• Approval of the international standard

• Selection of the Registration Authority and

set-up of the http://www.iso20022.org

• Creation of Registration Management

Group (RMG)

• Creation of Standards Evaluation Groups

(SEG)

• Registration and publication of first ‘ISO

20022 messages’

• Approval of a new edition of the international

standard in 2013

http://www.iso20022.org/

4

ISO 20022 message

catalogue

Published on www.iso20022.org

MyStandards

Maintenance process –

built on strict business

justifications and review

process - leading to new

‘versions’ of the

messages

‘PAIN’ = Payment Initiation = used in Corporate-to-bank

‘PACS’ = Payment Clearing and Settlement = used in Payments

‘SESE’ = Securities settlement = used in Securities

‘SEMT’ = Securities management = used in Securities

‘SEEV’ = Securities events = used in Securities

23 Business Areas – examples :

More than 20 submitting

organisations, besides

SWIFT

More than 320

messages, covering

payments, securities,

trade services, FX, cards.


What is ISO 20022?

Why is the Industry Adopting ISO 20022?

Enabling a hyper-connected payment world

Payments

revolution

Payments are rapidly transforming, with new players world-wide, transforming

to meet the customer requirements and improving the customer experience.

ISO payment and report formats are a key element of this transformation

Domestic

modernization

Real time payments are quickly becoming the consumer payment method of

choice and will quickly be an international payment option 24/7. ISO systems

Global payments

innovation

SWIFT gpi is driving unprecedented change –

delivering fast, transparent and trackable cross-border payments

A hyper-connected

payment world

Through global harmonization of payment formats we are prepared for a future

where complex and data rich payments move through any domestic and/or cross-

border payment system, and are credited to beneficiaries – Instantly.

Regulatory

requirementsFacilitates complying with ever changing and broader regulatory requirements.!

ISO 20022 Programme - Quality data, quality payments 5


The Cross-border Payments & Reporting Group (CBPR+) defines how ISO 20022

will be used in FI to FI payments and reporting

CBPR+ is:

A group of your peer banks advising SWIFT on how ISO 20022

should be used and proposes changes.

A collection of global ISO 20022 Market Practice and Usage

Guidelines for selected messages from the SWIFT MT Category 1,

2 & 9 messages.

The CBPR+ group works closely with the HVPS+ to ensure

harmonization of any message additions or changes.


The High Value Payment System defines how ISO 20022 will be used in regional

clearing systems

HVPS+ is:

A group of Central Banks and Clearing House services advising

SWIFT on how ISO 20022 should be used for harmonization of

global clearing.

A collection of global ISO 20022 Market Practice and Usage

Guidelines for selected messages.

The HVPS+ group works closely with the CBPR+ group to ensure

any new messages or message change requests are coordinated.

8

ISO 20022 XML message identifier


4!a . 3!c . 3!n . 2!n

Version

Variant

Message identifier/functionality

Business area

pacs.008.001.08

Version 8

Variant 1

FI To FI Customer

Credit Transfer

Payments Clearing and

Settlement

Example

9

How is an MT structure different from an MX structure?


MT ISO 20022 (MX)

<AppHdr>

…

</AppHdr>

<Document>

…

</Document>

ISO 20022

Business

Application Header

ISO 20022

Message

Business

Message


MT/ISO 20022 Translation rules – Where to find out more

https://www2.swift.com/mystandards/#/c/cbpr/landing

Q1 2020 User Handbook

iteration will include a full section

describing the Translation

mapping principals.

MT/ISO 20022 Translation

section of the CBPR+ landing

page



Special characters are

additionally allowed in:

• All party (agents and

non-agents) Name and

Address elements

• The Related Remittance

Information elements

• The Remittance

Information (structured

& unstructured)

elements

List of special characters:

!#&%*=^_’{|}~";@[\]

Additionally special

characters $ and > < signs

are enabled for the Email

Address elements

Currencies in the payments

should be expressed in ISO

Currency Codes only (3-

Characters, e.g. EUR)

Character Set

Translation of any special

character:

!#&%*=^_’{|}~";@[\]$ ><

into MT messages will be

represented by a . (Full

Stop)

All SWIFT ISO MX

message elements (fields)

which are defined (by data

Type) as text are restricted

to FIN X Characters:

a-z A-Z 0-9 / - ? : ( ) . , ' + .

$

<

>

!

#

&

%

*

=[

\

]

Note: While ISO 20022 base standards support non-Latin characters, CBPR+ will

only support Latin characters in Phase 1 and Phase 2

11


Example of Instructed Reimbursement Agent - Postal Address

<InstdRmbrsmntAgt>

<FinInstnId>

<ClrSysMmbId>

<ClrSysId>

– <Cd>ITNCC</Cd>

</ClrSysId>

<MmbId>0123401600</MmbId>

</ClrSysMmbId>

<PstlAdr>

<StrtNm>Via dei Gigli</StrtNm>

<BldgNb>1</BldgNb>

<BldgNm>Palazzo Viola</BldgNm>

<Flr>7 Piano</Flr>

<PstCd>20100</PstCd>

<TwnNm>Milano</TwnNm>

<TwnLctnNm>Quartiere Isola</TwnLctnNm>

<DstrctNm>Provincia di Milano</DstrctNm>

<CtrySubDvsn>Lombardia</CtrySubDvsn>

<Ctry>IT</Ctry>

</PstlAdr>

</FinInstnId>

</InstdRmbrsmntAgt>

Principle #2

MX

::54D://IT0123401600

NOTPROVIDED

Via dei Gigli,1,Palazzo Viola,7 Pi+IT/Milano,20100,Quartiere Isola,Lom

bardia,Provincia di Milano

MT

12

13

Why ISO 20022?



A global shift to ISO 200222

In the next 5 years, ISO 20022 will dominate

high-value payments, supporting over 80% of

transactions values worldwide

ISO 20022 has been adopted by market

infrastructures in 70+ countries replacing

domestic or legacy formats

ISO 20022 is the key standard in next gen

payment schemes, including instant payments,

move to 24x7, supporting open banking over

APIs, and others

This shift is already impacting the

cross-border payment system; under the

Eurosystem ‘big bang’ move to ISO 20022

Delivering next gen payments

Growing impactGlobal domination

A rush to ISO 20022

Live year

CIPS Phase 1 CNY

BOJ-NET JPY

SIC CHF


80% of global high value payments volumes will adopt ISO 20022 by 2025

15 planned

10 live

6 under

discussion

SAMOS ZAR

BISS BYRBESP RUB

LVTS CADCHIPS USD

Fedwire USD CHAPS GBP

BN-RTGS BND

NG-RTGS INR

CNAPS CNY

All reserve currencies

are either live or have

declared a live date:

USD, EUR, JPY, GBP,

CNY, CHF

CHATS HKD

RENTAS MYR

MEPS+ SGD

EURO1 EUR

TARGET2 EUR

Note: List of market infrastructures is

indicative and not exhaustive

Updated December 2019

Planned MI adoption of ISO 20022

AMUK

UK, CHAPS HVP Q2 2022 - Rich ISO, big bang

US, Fedwire HVP TBC - TBC after industry

consultation, planned

Q1/2 2020

US, CHIPS HVP TBC - TBC after industry

consultation, planned

Q1/2 2020

CA, LVTS HVP Nov 2023 - New MX CUG planned

Apr-Jun 2021, in parallel

to MT

- MX only target date

planned for Nov 2023

EMEA

CH, SIC HVP 2015 - Live, rich ISO

EU, T2 HVP Nov 2021 - Rich ISO, big bang

EU, EURO1 HVP Nov 2021 - Rich ISO, big bang

RU, RTGS HVP TBC

UA, UIPI HVP TBC

TN, RTGS HVP TBC

ZA, SAMOS HVP TBC

FI, Urgent

Payments

RTP TBC

APAC

CN, CNAPS2 HVP 2012 - Live, rich ISO, domestic

market practice

IN, NG-RTGS HVP 2013 - Live, like for like, domestic

market practice

BN, RTGS HVP 2014 - Live, like for like, domestic

market practice

CN, CIPS X-

borde

r

2015 - Live, rich ISO, proprietary

market practice

JP, BOJ-NET HVP 2015 - Live, like for like, domestic

market practice

BD, RTGS HVP 2015 - Live, like for like, domestic

market practice

HK, CHATS HVP Q1 2022 - Like for like, big bang

SG, MEPS+ HVP Q4 2021(Tentative)

- Like for like++ with rich ISO

from 2023 - big bang

MY, RENTAS HVP TBC - Like for like, big bang

TH, Bahtnet HVP Q2 2022 - Enhanced, big bang

VN, NAPAS HVP No plan

PH, Philipass HVP Q1 2021 - Enhanced, big bang

ID, RTGS HVP Discussion

NZ, RTGS HVP Q4 2021 (tentative)

- Enhanced, coexistence

AU-RITS HVP Q4 2021 - Enhanced, coexistence

PG. KATS HVP Discussion

FJ, Fijiclear HVP Discussion

Notes:

1. This is based on publicly available information at the time of publishing this slide. Actual

dates for adoption of ISO 20022 should be confirmed with the payment system operator;

2. All MI’s are planning HVPS+ market practice compliance unless otherwise stated

L

i

v

e

Updated Jan 2020

U


17

New capabilities enabled by ISO 20022

Rich rails

ISO 20022


Rich data End to end

Structured &

meaningfulRight the

first time


Starting November 2022 FI’s will be impacted by rich & structured data in

ISO 20022 from payment systems

Provide / map from

golden source

structured data

SWIFT

or MI

Debtor Debtor

agent

Intermediary

agent(s)

SWIFT

or MI

Debtor

agent

Creditor

Encourage

structured data

Forward

structured data

Process

structured data

Provide

Creditor data*

Provide

Debtor data

Encourage

Creditor data*

Encourage

Debtor &

Creditor data*

Encourage

Debtor &

Creditor data*

Encourage

Debtor &

Creditor data*

Forward

Creditor data*

Forward

Debtor &

Creditor data*

Forward

Debtor &

Creditor data*

Forward

Debtor &

Creditor data*

Monitor / Screen

Debtor &

Creditor data*

Monitor / Screen

Debtor &

Creditor data*

Monitor / Screen

Debtor &

Creditor data*

* This also applies for ultimate parties

Source: PMPG, July 2019

18

19

How will SWIFT help?


Reminder: current timeline

Cross-border migration coexistence period

in-flow translation to minimise impact on long-tail beneficiary banks

SWIFT messaging solutions for ESMIG, BoE


21

Today

Financial institutions today can modify data along the transaction lifecycle

– the SWIFT infrastructure operates on messages, not transactions

Implications

SWIFT only acts on

messages and does not

facilitate or validate the

transaction

Weakest link issues as the

least rich message format in

the chain is received by the

beneficiary


MT message

MT message MT message

MT message

Originator

Intermediary

Bank

Originator

Bank

Beneficiary

Beneficiary

Bank

MT Message flows (over SWIFT network)

Payments Example

22

Tomorrow

SWIFT will enable all customers in a transaction to communicate in multiple

formats and will be backwards compatible with existing infrastructure Implications:

Business Enabler – access to

new value add data services to

support growth and greater

efficiency

Reduced Friction – better

customer experience, increased

efficiency, mutualized services

Rich Data and Analytics –

improved data quality and

guaranteed transaction integrity

A state of the art technology

platform

- End-to-end transaction integrity

- Backwards compatibility

- Rich open ecosystem


Originator

Intermediary

Bank

Originator

Bank

Beneficiary

Beneficiary

Bank

Transaction

data

Transaction

Management

Data

Serv

ices D

ata

Serv

ices

Data Exchange

AP

Is

Messagin

g

Data Exchange

Data Exchange (over SWIFT – API & MT/MX Messaging)

MT/MX Message flows (maintained as needed)

Payments Example

Updated phased approach

SWIFT continues to support MI migrations (ESMIG,

BoE etc.) per current plans

Cross-border MT

with market-practice

New platform

ISO 20022 data model, access via messaging or API

Cross-border migration

1 2 3



What is changing?

FeaturesSupported products &

releases

• ESMIG ISO 20022 to MT market practice (*) • N/A

• Opt-in FINplus service for CBPR+ message types, with

no in-flow translation or RMA’s copied from FIN

• Access / Entry 7.4.50, 7.5

• AMH 4.1

• ESMIG ISO 20022 to MT Translator solution (*) • Standalone Translator

• Embedded Translator

• Access 7.4 or 7.5 with IPLA

• AMH 3.7, 4.0 or 4.1

Availability

• June 2020, published on

MyStandards with Readiness

Portal for testing

• Messaging service possible in

pilot Nov 2020, live Nov 2021

• Access 7.4.50 GA July 2020

• Access 7.5 GA July 2020

• AMH 4.1 GA July 2020

• Pilot in Q3 2020

• GA in Q1 2021

* NOTE: Timeline for EURO1 ISO 20022 to MT market practice and

Translator solution to be defined

Updated phased approach to do better

Sustain the aim to…

Support cross-border payments migration to ISO 20022, allowing community to

adopt at own pace during a coexistence period

1. Reducing impact on customers;

2. Accelerating rich ISO 20022 data adoption;

3. Providing value-added services in the centre.

…while

2020 –

20211

▪ Banks continue investment in ISO 20022 at own pace

▪ Existing commitments for ESMIG, BoE, etc. will be respected

▪ Channels, core banking systems, customer data

End –

20212

▪ MT for cross-border with market practice to cater for overflow data concerns for payments originating in ISO

20022-native PMIs including Target 2 and EURO1:

▪ Mapped parties use F- format, party data prioritised according to Wolfsberg transparency standards

▪ Market agreement on remittance information (e.g. no extended remittance for HVP with cross-border leg until

2023)

▪ SWIFT offers free on-premises translation from cross-border (CBPR+) ISO 20022 to MT, for ISO 20022-native

Eurozone HVP participants, during the one-year transition to the new platform

End –

20223

▪ New capabilities to accelerate availability of richer data for early adopters, leveling-up common features including

sanctions screening and fraud detection while removing dependency on intermediaries including PMIs

▪ ISO 20022 canonical data model; rich data end-to-end

▪ Complete transaction data maintained in the platform (MT intermediaries no longer ‘break the chain’)

▪ Adapts to capabilities of participants (MT, ISO 20022 messaging, API)

▪ API and GUI access to extended data


26

Why is the plan changing?

• The SWIFT Board endorsed a new approach to the adoption of ISO 20022 for cross-border payments and cash reporting business.

• The new approach benefits from centralised transaction management capabilities under development by SWIFT. This will allow

banks to adopt ISO 20022 at their own pace, accelerate realization of the benefits of rich, structured data offered by the standard and

reduce the total industry cost of adopting ISO 20022.

• Our commitment to improved transaction data quality through the use of ISO 20022 remains a cornerstone of SWIFT’s approach and

the end-date for the migration remains unchanged: MT category messages used in cross-border payments will be replaced by

November 2025.

What is changing?

• New capabilities will maintain complete data and transaction state information centrally, relieving intermediaries from the obligation of

passing on complete data

• Customers can continue with the formats and protocols they use today, and implement ISO 20022 at their own pace without

impacting the rest of the community

• To avoid investment in short-lived, messaging-only ISO 20022 solution, use of the existing MT standard for cross-border payments

will be extended by one year.

• From end-2022 customers will have the option of ISO 20022 messaging or APIs from end-2022. The MT standard will be supported

for backward compatibility only and new developments will be based on ISO 20022 data.

• The end-date for migration from MT to ISO 20022 payments remains unchanged. MT messages for cross-border payments will be

deprecated by November 2025.

• The new approach impacts SWIFT cross-border payments only. ESMIG and other MI initiatives are not impacted.

1. SWIFT will provide a better

approach, speeding adoption

& reducing costs

2. SWIFT is committed to

ISO 20022 & quality data in

payments

5. Only cross-border

payments are impacted

3. New capabilities will be

provided

4. Coexistence will begin end-

2022, with ISO 20022

messaging & APIs



How do I prepare for ISO 20022?

• CBPR+ usage guidelines will continue to be the basis of the new approach.

• Your investment is not wasted and you can use ISO 20022 messaging starting end-2022.

• SWIFT will offer free on-premises translation from cross-border (CBPR+) ISO 20022 to MT, for ISO 20022-native Eurozone HVP

participants, during the one-year transition to the new platform

• You should adopt ISO 20022 as the underlying data model across your systems and processes. Translation solutions are stop-gap

measures and should not be the default choice.

• You should

1. assess the impact of a strategic move to ISO 20022;

2. get trained;

3. identify vendor and in-house solutions; and

4. plan a roadmap of adoption across domestic market infrastructures and SWIFT cross-border payments.

• SWIFT provides services that will support you in your journey.

6. CBPR+ usage guidelines

will be the basis of the new

approach

7. Use the time to prepare

for strategic adoption of

ISO 20022


SCORE is out of scope of the ISO 20022 programme

Corporates can use

ISO 20022 today over

FileAct, formatted in

compliance with CGI market

practice

Corporates are in many-to-

one topology with their banks

and the bank can decide to

support CGI compliant

ISO 20022

Correspondent banks

decided to move

correspondent banking to

ISO 20022. No such mandate

comes from Corporates or

CGI

SCORE is one way of many

that a Corporate sends

messages to banks. Moving

SCORE to ISO 20022 will

add costs with limited benefits

MT 101 can be fully mapped

to CBPR+ pacs.008 with no

data loss. Corporates

remaining on MT will not

increase compliance risk

SWIFT will seek alignment

in and with CGI market

practices in 2021 & onwards

29

ISO 20022

The new language of payments



CBPR+ Phase 1 usage guidelines and planned translation rulesUpdated April 2020

U

Existing FIN MTs ISO 20022 equivalent Usage guidelines Translation rules planned

MT 103 / 102 pacs.008.001.0x

Published on MyStandards


MT 200 / 201 / 202 / 202 COV / 203 / 205 pacs.009.001.0x Published on MyStandards

MT 103 RETURN / MT 202 RETURN pacs.004.001.0x Published on MyStandards

MT 103 REJECT / MT 202 REJECT Negative pacs.002.001.0x

MX to MT only

SWIFT to Investigate Field 72 option or MT

199

No Equivalent Positive pacs.002.001.0x No translation planned

MT 210 camt.057.001.0x


MX to MT - Single

MT 900 / 910 camt.054.001.0x Published on MyStandards

MT 941 / 942 camt.052.001.0x No translation planned

MT 940 / 950 camt.053.001.0x Not required – Guidance in UHB

MT 920 camt.060.001.0x No translation planned

head.001.001.0x – v2Published with each request

typeN/A









U

Existing FIN MTs ISO 20022 equivalent Usage guidelines Translation rules planned

MT 103 STP Pacs.008 STP Guideline Under development No translation planned

MT 103 STP EU Pacs.008 EEA Guidelines To be planned No translation planned

MT 204 Pacs.010 Under Development From MX to MT only

MT 104 Pacs.003 Out of scope Out of scope

head.001.001.0x – v2Published with each request

typeN/A



U

Existing FIN MTs ISO 20022 equivalent

Usage Guideline

available on

Mystandards &

Readiness Portal

Translation rules planned

192/292 (Cancellation Request)camt.056.001.0x - Cancellation

Request

In collaboration with gpi

expert groupTo be confirmed

Camt.026 – Unable to Apply

Camt.027 – Claim Non Receipt

Camt.087 – Request to Modify

296/199/299/112 (Query/Answer)camt.029.001.0x - Resolution of

Investigation

MT 101 Pain.001 Wait for CGI deliverable To be confirmed

MT 110/MT 111/MT 112 New Cheques MessagesStart development during

June 2020 WorkshopTo be confirmed

MT n90 / MT n91 New Fee MessagesStart development during

June 2020 WorkshopTo be confirmed

Note: implementation of the phase 2 is

foreseen for the end of Nov 2022.


SWIFT MT versus ISO 20022: Key Concepts

ElementFieldMessage

specification

components

Parties in a

message

DataTypeFormat

Min MaxPresence

CodeSetQualifiers / Codes

ISO 20022MT

Textual RuleUsage Rule

CrossElementComplexRuleNetwork Validated Rule

AgentBank

DebtorOrdering Customer

CreditorBeneficiary Customer

Instructing AgentMessage Sender

Instructed AgentMessage Receiver

Legend:

What is changing? Party Identifiers:XX FIN MT format

equivalent

ISO 20022

Payment Initiation (pain) Payments Clearing & Settlement (pacs) Cash Management

(camt)

Ultimate

DebtorForwarding

Agent

Debtor Initiating

Party

:50a

Debtor

Agent

:52a

1 2 3 1 2 3 1 2 3

Ultimate

Creditor

Creditor

Previous Instructing

Agents

Instructing

Agent

Instructed

Agent

Creditor

Agent

Reimbursement

Agents

Intermediary

Agents

:59a:57a

:53a :54a :55a :56a:72:/INS/ :72:/INT/

Sender Receiver

Legend:

New parties

introduced in

ISO 20022

34ISO 20022 Programme - Quality data, quality payments

U


MT 103 Customer Credit Transfer

High Level Serial message flow

MT 103 MT 103MT 103A B C D

The MT way

pacs.008 FI to FI Customer Credit Transfer

High Level serial message flow

The ISO 20022 way

pacs.008

pacs.002

pacs.008pacs.008

pacs.002A B Dpacs.002 C


MT 103 Customer Credit Transfer

High Level message flow settled using the cover method over a Payment Market Infrastructure

MT 103

MT 202 cov MT 202 cov

A

B C

D

Note: For example purposes, this slide shows V-shape payment market

infrastructure flows. Y-shape flows will be different.

The MT way

pacs.002


pacs.008 FI To FI Customer Credit Transfer

High Level message flow settled using the cover method over a Payment Market Infrastructure

pacs.008

pacs.009

pacs.002

A

B

D

pacs.009

pacs.002 C

Note: For example purposes, this slide shows V-shape payment market

infrastructure flows. Y-shape flows will be different.

The ISO 20022 way


MT 103 Customer Credit Transfer serial message flow

MT 103 MT 103MT 103

MTParty

38

Ordering Customer

Ordering Institution

Intermediary Institution

Intermediary Institution

Account with

Institution

Beneficiary

A B C D

The MT key concepts

pacs.008

pacs.008

pacs.008

pacs.002

pacs.002

pacs.002

Pacs.008Party


pacs.008 FI To FI Customer Credit Transfer serial message flow

A B C D

Debtor

Debtor’s Agent

Intermediary Agent 1

Intermediary Agent 2

Creditor’s Agent

Creditor

The ISO 20022 key concepts


Webinars & work sessions

New webinars & information sessions

are available for you to register and get

your questions answered

Where can I get more help?

New resources are available

SWIFTSmart

The SWIFTSmart e-learning platform

includes training modules for

• Introduction to ISO 20022

• Introduction to MX

• (New) ISO 20022 Adoption for CBPR+

WWW

ISO 20022 Programme hub

The ISO 20022 Programme

Document Centre now includes:

• (Updated) ISO 20022 for

Dummies e-book

• (New) Third party toolkit & FAQ

• (New) ISO 20022 for payments

webinar

MyStandards

The MyStandards CBPR+ group page

includes:

• (New) camt.053 / 052– Statement & Report

• (New) camt.054 / 057 – Notifications

• (New) camt.056 – Cancellation

• (New) camt.060 – Account Reporting

Adoption services

Get support for your project with:

• Training

• Impact assessment

• Standards mapping

• Translation & integration solutions

Vendor support

A Vendor Readiness Portal is live,

allowing vendors to test their applications

A self-attestation framework has been

launched to allow vendors to confirm

readiness for CBPR+

List of attested vendors will be published

on swift.com starting March 2020

Knowledge Centre

New Frequently Asked Questions (FAQ)

is available in the Knowledge Centre

Customer support

SWIFT Customer Support is available to

answer questions if you do not find the

information you are looking for

https://www.swift.com/standards/iso-20022-programme/information-sessions?tl=en

https://swiftsmart.swift.com/

https://www.swift.com/standards/iso-20022-programme/document-centre?tl=en#topic-tabs-menu


https://www2.swift.com/go/book/book200726

https://www.swift.com/contact-us/support

41

How will SWIFT help?

Coexistence measures



SWIFT is transforming its portfolio to support the adoption of ISO 20022

Standards Messaging Interfaces Shared Services

MyStandards

Readiness Portal

Translation Portal

Validation

RMA

Addressing

Translation

Alliance Access and Entry

Alliance Messaging Hub

Lite2

Alliance Cloud

gpi tracker and services

Business Intelligence

Sanctions Screening

Payment Control


Overview of translation services

Local Service

Stand-alone or on interface

SendingBank

ReceivingBank

MX MX

Translator

Scope

• MX MT: send or receive side

• CBPR+ or others MI’s (including internal

format and enrichment)

Components

• Integration solutions on interfaces (IPLA,

AMH, SIL)

• Standalone product on Middleware, Back

office (Translator)

Implementation cost

• Price list and a fixed cost per library

• Professional services

U


Tools are available to help you understand and enable the new CBPR+ usage guidelines

MyStandards

Guidelines Definition

CBPR+ Other Guidelines

Readiness Portal

Test Guidelines out of band

Functional testing of guidelines

Building of cases

Translation platform

Test and understand translation rules out of band

Rules

Consultation

Online conversion engine

• Consume definitions

• Start evaluating impacts on

systems

• Optionally compare with

other guidelines (such as

MIs)

• Access a community page

• Test message against guidelines

• Support early back-office

application testing

• Visualise the translation rules on a

dynamic web-page

• Get full details on Translation logic

field by field

• Both ways MX to MT and MT to MX

• Get the possibility to test translation

with dummy messages

45

What do I need to do?


Customised for CBPR+

MyStandards & Readiness Portal – How Does It Work?

Publishing

Institution

(SWIFT)

SWIFT creates, manages

and maintains CBPR+

specifications in

MyStandards

1SWIFT publishes

specifications for testing in

a customised Readiness

Portal

2You consume specifications

and test your CBPR+

implementation against

specifications

3

MyStandards Readiness Portal

Publication for testing

Analysts

Implementation

Managers

CBPR+ specifications

(Online, PDF, XLS, XML)

Test against CBPR+

specifications


Financial institutions

46


The CBPR+ group has published all its usage guidelines in MyStandards




Analyse CBPR+ usage guidelines

Compare CBPR+ usage guidelines with other market practices



The Readiness portal :

Test CBPR+ usage guidelines

51ISO 20022 Programme - Quality data, quality payments

Analyze MT to ISO 20022 CBPR+ (and vice versa) mapping rules


Available as of December 2019

Test MT to ISO 20022 CBPR+ (and vice versa) mapping rules


Drop sample message

Get translated message

Translation Portal for visualisation of rules – only for CBPR+

Available as of December 2019


To reap the benefits of ISO 20022 the underlying data model across your IT

infrastructure and processes will need to be enhanced over time

Front office Product

processors

Core banking Screening Message

processing

Interbank

Channels

Data framework

Enterprise information bus

Capture rich,

structured data at

source from

customers

Ensure required

data is captured to

process

payments,

including

counterparty and

beneficiary

processing

Use rich

beneficiary and

originator details

for reconciliation

and ledger

operations

Use rich

beneficiary and

originator details

for sanctions

screening and

fraud monitoring,

reducing false

positives and

improving

efficiency

Upgrade message

processing

functionality to

facilitate

orchestration of

ISO 20022 and

legacy message

formats

Enable interbank

channels and

connectivity for

rich ISO 20022

messages

Upgrade data model to store new and rich elements, accessible for analytics, machine learning & AI to derive insights and new services

Enable shared utilities for the enterprise for accessing, validating, translating and enriching rich, structured ISO 20022 data

Present rich data,

in real-time to

customers, across

customer

channels


Diagram to identify systems across your architectural landscape :

Cross Border Payments Reference Workflow

Corporate / Retail /

InterbankProduct Processors Core Banking Payments Middleware Screening

Messaging

MiddlewareInterbank ChannelsData Framework

Request

Core Banking

ledger operations

Payments

Middleware

liquidity

management

High value

payments

validation

Low Value

payments

validation

Host to Host

Channel

SWIFT

Mobile

Channel

Internet Banking

Channel

Realtime

payments

validation

Sanctions

screening

AML screening

Fraud monitoring

SWIFT

Market

Infrastructure

Contingency

Message

orchestration

Message

transformation

Message

enrichment

Message

validation

Proprietary

Channel

Reference data

source

Printers

Data archival

Enterprise Information Bus


Customers should…

Prepare for CBPR+

• CBPR+ ISO 20022 data model and usage guidelines are the future of correspondent banking, replacing MT’s

• Customers should use usage guidelines and translation rules published on MyStandards as specifications to prepare

• Get trained using SWIFTsmart or SWIFT tailored learning services

Migrate back office systems to ISO 20022

• During coexistence period MT will be supported for backward compatibility only, and all new features will be based on the ISO

20022 data model

• Regardless of whether using ISO, MT or API channels customer back office systems must natively support ISO 20022 to

benefit from new features

Plan to implement the SWIFT channel

• The SWIFT platform will support CBPR+ ISO 20022 messaging over FINplus

• SWIFT will support backward compatibility with MT messaging over FIN

• SWIFT will provide more details of services supported by the API channel by Q3 2020


Organise your ISO 20022 adoption project

Understand changes by attending

events and / or webinars

Train yourself through e-learning

modules or classroom

Dive into the details of CBPR+

Usage Guidelines and product

documentation

Assess impacts of adopting ISO

20022 and involve your Vendors

Scope, shape, plan and budget your

implementation project

Detail and build the solution, relying

on available documents and

references

Carry out internal testing activities,

leveraging off-network testing

facilities

Set up and configure Pilot

infrastructure and operations,

getting ready for on-network testing

activities

Carry out external testing activities,

leveraging on-network testing

facilities and collaborating with

correspondents

Set up and configure Live

infrastructure and operations,

getting ready for initial Go-Live of

end 2022

Start exchanging CBPR+

traffic as part of Live

operations

Undertake next

implementation project for full

adoption by end of the

coexistence period in 2025

Questionnaire to capture scope,

approach and planning of adoption

Products readiness and operational

monitoringTraffic and operational monitoring Traffic monitoring

CU

ST

OM

ER

SW

IFT

Awareness2020

Implementation2020 – 21

Testing2021 – 22

Live2022

https://www.swift.com/standards/iso-20022-programme/information-sessions?tl=en#topic-tabs-menu

https://swiftsmart.swift.com/Saba/Web_spf/EU1PRD0018/app/shared;spf-url=pages%2Fpagelistview%2Fpgcnt000000000156357

https://www.swift.com/our-solutions/services/training/tailored-training


https://www2.swift.com/knowledgecentre/products/ISO%2020022%20Programme

https://www.swift.com/standards/iso-20022-programme/vendor-readiness

58

Service offerings are and will be available for supporting each step in the journey.

Awareness2020

Implementation2020 – 21

Testing2021 – 22

Live2022


INITIATION EXECUTION RUN

Requirements Gathering

Solution Architecture

Operational Impacts

Infrastructure Needs

Planning & Budgeting

Funct’l Design

Detailed Design

Build & Unit Testing

System Testing

Integration Testing

E2E / User Acc Testing

Infra Changes

Work Processes

User Training

TOM Definition

Handover

Closure

Vendor(s) Involvement

Project Management

Impact

Assessment(available)

Standards

Readiness(available)

Product-related Implementation / Integration(upcoming)

Tailored Learning(available)

Sparring Partner(upcoming)

Technical

Readiness(available)

Req’s

Analysis &

High Level

Design(available) Bespoke Solution Implementation

(available)


MyStandardsKnowledge

Centre

3 main sources of information to support you along the way

SWIFT

Smart

Link

Public

Link

For swift.com registered customers only

Link

For swift.com registered customers only

• CBPR+ User Handbook

• CBPR+ Usage Guidelines

• Readiness Portal

• Translation Portal

• Customer Adoption Guide

• Frequently Asked Questions

• Detailed products documentation

(Service Descriptions, Release

Letters, User Guides, ...)

Series of e-learning modules

• Introductory topics

• ISO 20022 standards & CBPR+

guidelines [planned]

• Products for ISO 20022 [planned]


https://www2.swift.com/knowledgecentre/products


60




Webinars & work sessions

Webinars & information sessions are

available for you to register and get your

questions answered


New resources are available

SWIFTSmart

The SWIFTSmart e-learning platform

includes training modules for

• Introduction to ISO 20022 and MX

• ISO 20022 Adoption for CBPR+

• (New) Dive into CBPR+ message flows

WWWISO 20022 Programme hub

The ISO 20022 Programme

Document Centre now includes:

• ISO 20022 for Dummies e-book

• (New) Customers insights

• (New) Corporate case study

• (Soon) Strategy update recordings

MyStandards

The MyStandards CBPR+ group page

includes:

• (Updated) Phase 1 Usage Guidelines

• (Updated) User Handbook

• Samples Library

• Readiness & Translation Portals

Adoption services

Get support for your project with:

• Training

• Impact assessment

• Standards specifications

• Integration solutions

Vendor support

A Vendor Readiness Portal is live,

allowing vendors to test their applications

A self-attestation and certification

framework has been launched to allow

vendors to confirm and promote

readiness for CBPR+

Knowledge Centre

The Knowledge Centre includes updated

documentation:

• Frequently Asked Questions (FAQ)

• Customer Adoption Guide

Customer support

SWIFT Customer Support is available to

answer questions if you do not find the

information you are looking for

U

https://www.swift.com/standards/iso-20022-programme/information-sessions?tl=en


https://www.swift.com/standards/iso-20022-programme/document-centre?tl=en#topic-tabs-menu




https://www.swift.com/contact-us/support

www.swift.comContact your account manager

or contact us at [email protected]

if you have any questions

Documents

ISO 20022 Programme - SWIFT