About ISO 20022

ISO 20022 is an international standard for electronic communications in financial services, developed by the International Organization for Standardization (ISO). The standard is based on XML files with a clearly defined structure, which allows precise transmission of information about transactions.

ISO 20022 aims to:

  • unify and simplify data exchange between financial institutions, businesses and payment systems,
  • increase the security of payment transactions.

ISO 20022 Implementation schedule

The transition to the ISO 20022 standard is carried out in stages. Individual payment systems implement the new messages according to their own schedules.
  • SEPA CT (SEPA Credit Transfer) – SEPA CT (SEPA Credit Transfer) – has been using the ISO 20022 standard since 2008.
  • TARGET – switched to ISO 20022 communication in 2023.
  • SORBNET – since September 2025 it has only used ISO 20022 messages.
  • SWIFT – the migration of interbank communication to the ISO 20022 standard has been largely completed. At the same time, SWIFT has extended the schedule for the implementation of mandatory structured addresses in payment messages. The new deadline for the implementation of this requirement will be announced by 31.12.2026 at the latest.
  • ELIXIR i Express Elixir – the transition to ISO 20022 announcements is planned for 2027. The schedule results from the plans of the payment market and is subject to change.
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