16th March 2020 Church News.
SWIFT is set to delay the ISO 20022 migration date for cross border payments from November 2021 to the end of 2022, reflecting challenges banks face in preparing existing infrastructure for the transition. The common global data âlanguageâ is expected to see widespread payments industry adoption, so following feedback from the SWIFT community, the deadline it has been extended by a year. The ultimate deadline of November 2025 for decommissioning the legacy SWIFT MT standard remains in place.
