Mapping rules define how Swift MT messages are translated to Cross Border and Payments (CBPR+) ISO 20022 and vice versa. What is the ISO 20022 CBPR+ Translation Portal?
The new Swift Translation Portal is a key resource for our community and a significant milestone in our journey to ISO 20022. To support our community, Swift has been working closely with top payment banks to define how ISO 20022 will be used and how to transition from the current Swift MT standards. Intensive preparation by payment systems and correspondent banking participants is in progress.
New technologies and business innovation are reducing friction and increasing the speed at which money moves across borders ‒ and the global move from Swift MT and proprietary formats to the ISO 20022 messaging standard for FI to FI payments and reporting will mean rich, quality data, end-to-end, across the ecosystem.
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