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ISO 20022 migration to continue despite delays, Deutsche Bank paper

This paper comes at a time when the ISO 20022 migration suffered delays, with a number of changes to existing timelines and strategies from SWIFT and the world’s major market infrastructures having been announced in 2020. The paper explores the latest developments, including SWIFT’s year-long postponement of the migration in the correspondent banking space, according to the official press release. 

The decision meets industry calls for a delay and also provides time to build the new central Transaction Management Platform (TMP) – a core feature of SWIFT’s new strategy that will allow the industry to move away from point-to-point messaging and towards central transaction processing. It also details the wave of action that has been seen by market infrastructures around the world – with many, including the ECB, EBA CLEARING and the Bank of England, announcing revised migration approaches.
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