ISO 20022 Migration and Modernization

ISO 20022 is coming soon to a payments market infrastructure near you. Are you ready?

Nov 2021 Deadline for 'big bang' migration of EU T2 and Euro1

ISO 20022 is the future of financial messages. SWIFT, central banks, and market infrastructures worldwide are migrating to ISO 20022 based messaging. ISO 20022 is also the de facto standard for new payment schemes, including real-time payments.

It's not only about changing formats. ISO 20022 messages carry extended data, with the potential to improve STP and reduce reconciliation. But to take advantage of these capabilities, banks need to update or replace their payments and messaging systems.

Volante can help you with every stage of your migration journey. Our solutions range from message transformation to legacy system co-existence to end-to-end payments processing, powered by the industry’s most comprehensive ISO 20022 standards libraries and data models. Available on-premise or as a service in the cloud.

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Major market infrastructures migrating to ISO 20022

Volante ISO 20022 Solutions

Message Transformation

  • Transform any message to and from ISO 20022
  • Validate hundreds of different message types, versions, and variants
  • Handle complex ISO 20022 transformation challenges through configuration, not coding

ISO 20022 Migration

  • Modular legacy system co-existence solution for managing multiple ISO 20022 migration programs
  • Addresses data truncation issues by maintaining extended message data in ISO 20022 canonical data model
  • Optional sanctions, fraud, and AML orchestration

Payment Processing

  • Replace legacy systems with our modern ISO 20022 native solutions
  • End-to-end payment processing, from capture to clearing
  • Communicate with corporate customers using ISO 20022
  • Real-time, ACH/bulk, wire/RTGS
  • Domestic and cross-border

Key Features and Benefits

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Standards Libraries

SWIFT MT-MX and CBPR+

U.S. Fedwire and CHIPS

T2 RTGS and HVPS+

UK New Payments Architecture, CHAPS

Other domestic and regional standards

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Productivity

Visually defined message flows and exception processing

No hand-coding 

Auto-generated documentation

Auto-generated test scripts

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Technology

Open microservices architecture

API enabled

Cloud native, cloud agnostic

SQL and noSQL databases

Outstanding performance

Read the Paypers article: The Great ISO 20022 Adoption

In this webinar, experts from BNY Mellon, NACHA and Volante discuss the business opportunities and challenges of ISO 20022, and how your institution can make the most of this global messaging standard.

Nacha ISO 20022

Executive Briefing: Accelerating ISO 20022 Adoption Through Collaboration