ISO 20022

The ISO 20022 standard creates a unified, global format for payment and financial messages.

Our short film explains what ISO 20022 is all about:

The introduction of the ISO 20022 standard began in Europe with the SEPA formats. Meanwhile, the ISO 20022 standard is already being used in real-time, low-value and high-value clearing systems. It is utilised in over 70 countries for payment transactions, securities trading, foreign trade financing and treasury operations.
 

Once the DTAZV format, which has been used in Germany until now for cross-border payments, and the MT101 Request for Transfer format have been phased out, the ISO 20022 standard will be used throughout the entire payment processing system.

The enhanced and structured data content makes it easier for payment systems to verify payments automatically, thereby reducing the need for manual intervention.
 

The transition will allow you to use a wider range of better-structured data in your payment transactions. Furthermore, the standard streamlines the formats used for both SEPA and international payments.

camt: Cash Management – Account and transaction information

These messages are used for the end-of-day account statement, intraday reporting, and notification of SEPA credit transfers and direct debits.
 

pain: Payments Initiation – Payment order

In order to migrate to the ISO 20022 standard and use the new formats, you will need to adapt the interfaces to and within your payment processing systems. To support your preparation, the following pages provide detailed information on each message type, along with additional resources to help a smooth transition.

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.