ISO 20022 Migration
A solution for SWIFT, Fedwire®, Euro1, T2, and more

ISO 20022 Migration
A solution for SWIFT, Fedwire®, Euro1, T2, and more

 ISO 20022 Migration

50% Average customer savings in cost and time using Volante

All financial institutions need an ISO 20022 solution. For large financial institutions with multiple direct market infrastructure connections including SWIFT for cross-border payments, ISO 20022 modernization offers significant opportunities in the form of improved straight-through processing, richer payment data, and enhanced interoperability.

Banks face implementation challenges. ISO 20022 deadlines, migration strategies, and rulebooks vary by SWIFT and payment market infrastructures. Remittance and reference data may get truncated when translating from ISO to legacy standards, which in turn affects transparency and compliance as legacy systems may not process or make use of the enriched data.

Modernizing is easier and faster than you think. With VolPay, it's possible to address the complex challenges of ISO 20022 migration programs with minimal impacts to existing systems. Whatever the deadlines, it’s in the best interest of banks and financial institutions to begin their ISO 20022 migration journey now.

Fintech Futures ISO 20022 5

Five Success Factors for an Ideal ISO 20022 Migration

Webinar: ISO 20022 Migration

Listen to a recent webinar featuring speakers from Deutsche Bank, Credit Suisse, Erste Bank AG, and Volante to learn why it’s time to start your ISO 20022 migration now.

Volante's ISO 20022 Solution

Only Volante and VolPay for ISO 20022 Migration can help you with the entire ISO 20022 migration lifecycle, from standards compliance through to payments modernization.

VolPay for ISO 20022 Migration

VolPay for ISO 20022 Migration addresses the challenges of variable timelines, legacy systems, data truncation, and more, allowing banks to meet mandatory deadlines without requiring changes to legacy systems


  • Modular components that can be configured to meet specific business needs 
  • Business services for: bulking/debulking, validations, transformations, enrichment, and sanctions/fraud orchestration—in one solution 
  • Manages bidirectional transformations between legacy and ISO 20022 formats 
  • ISO 20022-fluent canonical data model


  • Simplify implementation across multiple market infrastructure migrations and timelines 
  • Lower cost, complexity, and risk of migration projects 
  • Rapid implementation – live in twelve weeks
  • One comprehensive platform for all ISO 20022 migration, including SWIFT and payment market infrastructure migrations 
  • Addresses data truncation issues by maintaining extended data  
  • Insulates core systems from mandatory migrations


  • Open microservices architecture 
  • Supports SQL and NoSQL databases  
  • Cloud-native, cloud-agnostic 
  • Best-in-class performance and scalability

Supported Message Standards

  • SWIFT MT and MX: Payment messages (CAT 1, 2, and 9) 
  • US: Fedwire®, CHIPS, RTP 
  • Europe: T2, Euro1; SEPA – SCT, SDD, IP
  • Global: CBPR+, HVPS+

Frequently Asked Questions

ISO 20022 is the XLM based methodology used by the financial industry to establish consistent message standards across all business processes.

There is urgency behind this initiative because cross-border payment messages sent over the SWIFT network are moving to the ISO 20022 standard starting at the end of 2022. SWIFT is mandating this change and will give the industry until November 2025 to migrate.

In addition, payment market infrastructures such as: T2 and Euro 1 in the Eurozone; Fedwire, CHIPS and Lynx in North America; and CHAPS and NPA in the UK are all re-engineering and modernizing their payment platforms and adopting ISO 20022. 

These changes will affect any financial institution that sends or receives payment messages, such as corporations, broker/dealers, asset managers, custodian banks, etc.

The benefits associated with ISO 20022 are numerous:

  • Provides the foundation for future efficiencies in payments processing
  • Improved transparency from a compliance perspective; it's easier to detect fraud and analyze AML and sanctions problems
  • Provide complete and structured data i.e. debtor and creditor names and addresses and full remittance information
  • Increased automation and STP; better reconciliation and fewer errors
  • Better customer experience that allows banks to offer clients innovative products
  • Allows interoperability between cross-border and domestic payment rails

  • Changing migration timelines
  • Increased complexities in rule books and migration strategies and plans
  • Internal complexities and integration with legacy technology is a concern
  • Operational processing may become affected and education of staff will be necessary
  • Data loss and message truncation 

Technology is essential in getting ready for the ISO 20022 migration, whether that means replacing legacy technology altogether, or the quick implementation of spot solutions to help facilitate translation, validation, routing, enrichment, de-bulking/bulking, sanctions/fraud/AML orchestration, and other microservices.