ISO 20022 Migration: November 2025 marks the end of the coexistence period for the old SWIFT MT and new ISO 20022 MX payment messages for cross-border transactions. From this point, financial institutions are required to use the ISO 20022 standard as the sole format for core payment messaging to ensure better data quality and interoperability.
Banksoft solutions provide "native" ISO 20022 MX payment messages functionality which is more advanced and reliable compared to "message converter" functionality provided by some other vendors.
This way Banksoft solutions provide full regulatory compliance for customer banks using SWIFT payments.
