ISO 20022 Adoption and Migration for Cross-Border Payments and Reporting Plus


  • Trade finance
18 April 2023

CBPR+ project in UBAF

CBPR+ is a SWIFT program for adopting ISO 20022 for cross border payment and reporting messages in the correspondent banking space. The use of ISO 20022 messages in SWIFT cross-border payments started in March 2023 with a coexistence phase up to November 2025, where the old MT messages for cross-border payments and cash reporting will be replaced.


What is ISO 20022?

ISO 20022 is an open international data standard defined as part of the Cross-border Payments and Reporting Plus (CBPR+) specification. It is being adopted around the world for domestic batch and instant payment systems, and will be adopted for high value RTGS and Euro1.


Migration from MT Format to ISO 20022 Standard (MX type)

Swift introduced ISO 20022 in March 2023. Today, Financial Institutions are able to receive ISO 20022 payment messages. As of November 2025, all messages, both sending and receiving must be based on ISO 20022, but until then Financial Institutions are still allowed to send current MT messages. This transition period is meant for FI’s to be able to gradually adapt to the new standards.

What do I need to do as a corporate?

Although the current scope of the ISO 20022 change is focused on Financial Institutions, also Corporates most likely will have to change their ERP/TMS systems, to be able to process richer and structured name/address information of beneficiaries and fill in additional mandatory fields in the future.


What SWIFT MT messages are in March 2023 scope for the ISO 20022 migration at UBAF?

MT message

MX message

MT 101 relay pain.001.001.09 (Interbank)
MT 102 pacs.008.001.08
MT 102 STP pacs.008.001.08
MT 103 REMIT pacs.008.001.08
MT 103 pacs.008.001.08
MT103 /RETN/ pacs.004.001.09
MT 103 STP pacs.008.001.08
MT 192 camt.056.001.08
MT 196 (Response) camt.029.001.09 (ONLY as a response to camt.056)
MT 200 pacs.009.001.08
MT 201 pacs.009.001.08
MT 202 pacs.009.001.08
MT 202 (with reimbursement Agents – Fields 53 and 54) pacs.009.001.08 - ADV
MT 202 COV pacs.009.001.08 COV
MT 202 /RETN/ pacs.004.001.09
MT 203 pacs.009.001.08
MT 204 pacs.010.001.03
MT 205 pacs.009.001.08
MT 205 COV pacs.009.001.08 COV
MT 205 /RETN/ pacs.004.001.09
MT 210 camt.057.001.06
MT 292 camt.056.001.08
MT 296 camt.029.001.09 (ONLY as a response to camt.056)



The stages of the CBPR+ project at UBAF

See also

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