US TCH real-time payment and the first SEPA ISO 20022 messages in the cloud. It powers ISO 20022 messaging for three of the largest Swiss banks and one of the largest South African banks. By regularly contributing to ISO 20022 industry standards groups, we help define the roadmap for the entire industry.

- EPC125-05 SEPA Credit Transfer Scheme Rulebook Version 8.0 - EPC132-08 SEPA Credit Transfer Scheme Customer-to-Bank Implementation Guidelines Version 8.0 - ISO 20022 – Payments Maintenance 2009 - Message Definition Report, September 2009. - A Unique Overview of Basic “Reference Number” Models with Model Descriptions, Contents

Finnish SEPA migration plan can be found on the Federation of Finnish Financial Services site www.fkl.fi. The migration plans of other countries can be found at www.sepa.eu. 1.3 ISO 20022 MESSAGE DESCRIPTION IN SAMLINK CONNECTIONS The purpose of this description is to describe the data content of the ISO 20022 payment infrastructures and could ease the consolidation of the SEPA market. l ISO 20022 Newsletter Spring 2012 2 THE ROLE OF ISO 20022 INCREASED DRAMATICALLy WITH THE ADVENT OF SEPA. ISO 20022 THEREFORE BECAME AN OBVIOUS INCREMENT OF THE TECHNICAL AND FUNCTIONAL REqUIREMENTS TO BE ADDRESSED By A MARKET INFRASTRUCTURE IN ORDER Guide to ISO 20022 migration Part 2 Our “Guide to ISO 20022 migration: Part 1” was published in May 2019 and this, Part 2 in our series of ISO 20022 guides, follows only four months later. Yet the migration to this new global standard for payments messaging has made significant progress even in such a relatively brief period of time.

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• In September 2018 the SWIFT Community launched plans to migrate cross-border payments and cash reporting traffic from Overall, the migration to SEPA has led to innovation in payment services in the European Union and the creation of pan-European PSPs offering competitive services. It has facilitated the move towards global standards (ISO 20022) for SEPA 2.0: the ISO 20022 update could lead to a triple migration SEPA and the ISO 20022 standard it's based on can well be considered a pioneer amongst the global ISO 20022 initiatives. Over the next few years, the US Federal Reserve and The Clearing House, the Eurosystem and EBA Clearing and the Bank of England’s real-time gross settlement service will all modernise their high-value payment systems with ISO migration – bringing new data components and the possibility to transfer far richer information along the payments chain. Clearings in scope of migration: TARGET2 + EURO1. EBA Clearing has committed to “maximal alignment” with TARGET2 timelines and formats.

The adopted ISO 20022 messages should yet be known by the owner of the initiative. • (Planned) live date: reflects the date the initiative went or plans to go live.

US TCH real-time payment and the first SEPA ISO 20022 messages in the cloud. It powers ISO 20022 messaging for three of the largest Swiss banks and one of the largest South African banks. By regularly contributing to ISO 20022 industry standards groups, we help define the roadmap for the entire industry.

Here, in part two, we delve deeper into what the new payment standard means for financial institutions. ISO 20022 messages are based on XML (Extensible Mark-up Language) technology, which has become more commonplace with the Internet. 1.2 SEPA and ISO 20022 European banks, the European Central Bank, the national central banks and the Euro-pean Commission are creating the Single Euro Payments Area (SEPA).

CBPay supports all the MT standard processes shown below and the ISO 20022 formats commonly used in SEPA today. With the start of the ISO 20022 migration tests, all MX standard processes shown

There is a matrix schedule where you can see for which country version we have plans to release SEPA direct debits. Following industry wide consultation and an impact assessment, the Programme is now able to confirm a revised approach to ISO 20022 migration: Phase 1: Preparation (Completed) We have published our approach for the migration to ISO 20022, the ISO 20022 revised approach and final schemas document provides detail for CHAPS Direct Participants and all RTGS account holders. The questionnaire also revealed that 80% of ISO 20022 adopters said their cost-benefit analysis of the migration was positive. Some of the key benefits to adoption included straight-through processing, increased operational efficiency, reduced risk and cost, and better structured data elements and standards, among others. - ‘Live’: ISO 20022 messages have already been adopted.

SEB ISO 20022 Message Implementation Guideline for the messages camt.052, camt.053 and camt.054 Version 15.2.0.0 Bank to Customer reporting Valid from the 11 th of May, 2015 ISO 20022 XML to be used for file-based transactions to and from customers 1 February 2015 Migration deadline for Direct Debits in Latvia 1 February 2016 No BIC to be required for cross-border payments (euro-countries); niche products migration complete XML formats mandatory – conversion services must be held outside banking systems. The ISO 20022 standard will gradually be implemented by European banks as well as Pan-European payment transactions clearing and settlement solu-tions. The versions of SEPA Credit Transfer Rulebook as well as Implementation Guidelines can be found on the website of EPC (European Payments Coun- The European Parliament (EP) and European Council (EC) have confirmed a deadline of 1 February 2014 for migration to both single euro payments area (SEPA) Credit Transfers (SCTs) and Direct Debits (SDDs). There is a matrix schedule where you can see for which country version we have plans to release SEPA direct debits. Following industry wide consultation and an impact assessment, the Programme is now able to confirm a revised approach to ISO 20022 migration: Phase 1: Preparation (Completed) We have published our approach for the migration to ISO 20022, the ISO 20022 revised approach and final schemas document provides detail for CHAPS Direct Participants and all RTGS account holders. The questionnaire also revealed that 80% of ISO 20022 adopters said their cost-benefit analysis of the migration was positive. Some of the key benefits to adoption included straight-through processing, increased operational efficiency, reduced risk and cost, and better structured data elements and standards, among others.
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EBA Clearing has committed to “maximal alignment” with TARGET2 timelines and formats. Relevant governing bodies: European Central Bank, EBA Clearing.

She will explain typical challenges arising during the implementation of this project, for example, the definition of a group-wide strategy to embrace the ISO migration or the identification of all affected areas 2019-08-29 SEB ISO 20022 Message Implementation Guideline for the messages camt.052, camt.053 and camt.054 Version 15.2.0.0 Bank to Customer reporting Valid from the 11 th of May, 2015 Guide to ISO 20022 migration Part 2 Our “Guide to ISO 20022 migration: Part 1” was published in May 2019 and this, Part 2 in our series of ISO 20022 guides, follows only four months later.
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Finnish SEPA migration plan can be found on the Federation of Finnish Financial Services site www.fkl.fi. The migration plans of other countries can be found at www.sepa.eu. 1.3 ISO 20022 MESSAGE DESCRIPTION IN SAMLINK CONNECTIONS The purpose of this description is to describe the data content of the ISO 20022 payment

This was one of the drivers for and to the announcement at the end of 2018 that SWIFT would facilitate a mandatory migration for cross-border payments and cash to ISO 20022 beginning in November 2021. Description on the columns: ISO Index NO – Number that refers to the corresponding description in the ISO 20022 XML Message Definition Report.

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Target2 migrates to ISO 20022 with a big bang, whereas SWIFT provides a migration phase of three years within which legacy formats can still be used. Additionally, SWIFT provides a migration service between ISO and the earlier MT formats. However, the banks bare sole responsibility for the conversion results.

Clearings in scope of migration: TARGET2 + EURO1. EBA Clearing has committed to “maximal alignment” with TARGET2 timelines and formats.

“Costs and benefits of migration to ISO 20022 in SEPA”. The project assesses ex post the impact of the introduction of the SEPA Regulation, with a specific focus on the ISO 20022 XML messaging standard in the Single Euro Payments Area (SEPA).

migration to ISO 20022 standards by the EU’s CBPay supports all the MT standard processes shown below and the ISO 20022 formats commonly used in SEPA today. With the start of the ISO 20022 migration tests, all MX standard processes shown ISO 20022 will impact a wide number of bank functions, from payments processing systems to foreign exchange, treasury, billing, screening, trade finance, and other operational areas. Before a ‘payments nirvana’ can be achieved, organisations should be prepared for what is likely to be a troublesome transitional period.

The global migration to ISO 20022 continues (despite the disruptions of Covid-19) and market infrastructure participants are keeping a close eye on the road ahead. In March 2020 SWIFT announced a revised strategy, centred on the introduction of a central Transaction Management Platform (TMP), and this brought a fresh nuance to the migration story. ISO 20022 deadlines, migration strategies, and rulebooks vary by SWIFT and payment market infrastructures.