Guide to ISO 20022 migration
2021 was supposed to become the year for ISO 20022. However, it was never meant to be. The Covid-19 pandemic threw a spanner in the works – causing SWIFT to delay its migration by a year and further market infrastructures (MI) to follow suit. What was originally planned to be the “go-live year” has turned out to be “the year of delivery”.
Since the release of our previous edition of the Guide just before Sibos 2020, some MIs, such as the Philippines’ RTGS system, have managed to keep to their original migration strategies and the ISO 20022 vision has become a reality this year. Elsewhere, other MIs, remain committed to their respective, revised timelines, with direct participants in Europe on track to begin industry testing in December 2021, and those in the UK deep in preparations for the fast-approaching like-for-like phase in June 2022.