Volante Technologies delivers immediate support for SWIFT Standards Release 2020 MT messages

Monday 16 March 2020 11:08 CET | News

Volante Technologies, a global provider of payments and financial messaging solutions, has announced immediate support for SWIFT Standards Release 2020 MT messages.

The final specification of this release was made available by SWIFT on the 13th March 2020. Volante implemented the updated SWIFT messages releasing them today, less than three days after the release. These messages will be live on the SWIFT network on the 22nd November 2020 giving users of Volante Designer and the SWIFT plug-in for SR 2020 more than eight months to enhance their SWIFT applications and test them before the go-live date. 

Validators for the new SWIFT SR 2020 MT messages are also available as Amazon Machine Images (AMIs) on the AWS Marketplace. Users can validate implementation of these messages using these AMIs, ensuring 100% compliance with the new standards. 

SWIFT is migrating from the legacy MT payments and cash management message standards to ISO 20022, which starts in November 2021 with the Cross Border Payments and Reporting Plus (CBPR+) working group having defined the message and usage guidelines for cross border payments. Volante supports these new messages as well as the translations between the MT and ISO 20022 messages. Volante’s ISO 20022 solutions can be used to ease migration to the new standard whilst MT and ISO messages co-exist.

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Keywords: Volante Technologies, SWIFT Standards Release 2020 MT messages, payments
Categories: Banking & Fintech
Countries: World
This article is part of category

Banking & Fintech