ISO 20022

The ISO 20022 standard provides a unified, global framework for payment and financial messages.

Our short video explains what ISO 20022 is all about:

The introduction of ISO 20022 in Europe began with the SEPA formats, which are based on this standard. Since then, ISO 20022 has broadened its scope to include real-time, low-value, and high-value clearing systems, supporting automated payments, securities trading, foreign trade financing, and treasury operations across more than 70 countries.
 

In Germany, the transition to ISO 20022 across all areas of payment processing is being completed with the replacement of the DTAZV format, which is still in use for cross-border payments, and the MT101 Request For Transfer format.
 

The ISO 20022 format’s richer, structured data content facilitates the automated validation of payments in your systems, thereby reducing the need for manual intervention.
 

The transition will allow you to work with a wider range of better structured data in your payment systems, and streamline SEPA and cross-border transactions through a single, unified format.

• camt: Cash Management – Bank statements
  Messages used for the end-of-day account statement, intraday reporting, and notification of SEPA credit transfers and direct debits.
  
  
• pain: Payment Initiation
  Includes SEPA messages, related messages such as SEPA R transactions (Payment Status Report, Payment Cancellation Request, Customer Payment Reversal), urgent payments, cross-border payments, and, in the future, Request for Transfer (RFT-messages).

Adapting to the new formats during the ISO 20022 migration will require changes both to the systems that process the payment transaction files and their interfaces.
 

To support your preparation, the following pages provide detailed information on each message type, along with additional resources to help a smooth transition.