MT to MX linking
Creating comfort and confirmation during migration
How can you migrate to ISO 20022 MX messages whilst retaining internal use of MT messages?
ISO 20022 is transforming from a standard into what you might almost call a global language for payment geeks. Used by payment systems in over 70 countries it has become the de facto standard for high-value payments of all reserve currencies. In plain speak: its reach is 80% of global volumes and gearing up for 90% of the value of global transactions.
The Swift community recognised the importance of turning plain data into insights that can be read by all. In a world of open banking the transaction is a tick in the box; it is the underlying data that matters to create value and relevance.
In our use case we explain how to migrate the MT message formats to ISO 20022. Download to learn how to create the necessary baseline for MX messages to be accepted by all and carefully linked to all surrounding systems.