The countdown is on
As of 22 November 2025, the coexistence period will end, and all cross-border payment instructions must be exchanged in the new ISO 20022 messaging standard. Yet as of today*, just over one-third of financial institutions have adopted ISO 20022.
Financial institutions that are not fully ISO 20022 for CBPR+ capable by the deadline will experience both operational and financial disruptions. So, it’s imperative to act now and not delay your migration efforts.
1.6M+
daily average of ISO 20022 payment instructions sent and received on FINplus service globally
169+
countries sending ISO 20022 messages on FINplus service
36.8%
adoption rate*
Source: Swift
*As of 31 March 2025
Time to take action
With the November 2025 deadline coming on quickly, it’s time to take action to ensure your organization’s compliance. There are several critical steps that can’t be missed for a successful migration, such as conducting a comprehensive gap analysis, developing a detailed implementation plan and implementing new processes and controls. This new impact study, published in association with Finextra, provides the key steps to be ISO 20022 for CBPR + compliant.
Can’t meet the November 2025 deadline?
While fully migrating to ISO 20022 by the deadline is the ideal scenario, there will be some financial institutions that won't be ready for various reasons. Some financial institutions are implementing their own translation or transformation service, while others are leveraging solutions from external vendors or partners. At Finastra, we offer a transformation service that supports a wide range of messaging standards, including ISO 20022, Swift MT/MX and more.
Resources
To help you fully prepare for the upcoming migration, here is a list of resources to assist your organization in its migration efforts.
Struggling to meet the ISO 20022 for CBPR+ deadline? Finastra can help.
Please contact us today!