Yesterday, SWIFT announced a delay at the beginning of the CBPR+ ISO20022 co-existence period from November 2022 to March 20, 2023. SWIFT has confirmed the new date is definitive according to its statement below:
“An overwhelming majority of our global community has requested that Swift align the start of the global ISO 20022 migration for CBPR+ with the ECB’s updated timetable to ease implementation. In response, we have taken a decision to accommodate this request, and Swift will begin the ISO 20022/MT coexistence period for all users on 20 March 2023.”
Financial institutions are encouraged to continue to prepare for the beginning of March 20 and consider all possible scenarios in their planning to ensure they are ready for the start of ISO 20022 co-existence for CBPR as of this date.
If your institution is still not ready for ISO 20022, we can help you. Contact us to learn more!