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Nearly two decades of ISO 20022

The payments market has changed dramatically since the publication of ISO 20022 in 2004. New entrants, new technologies and a constant stream of regulation has meant that ISO 20022 is being put through its paces.


Over the last two decades ISO 20022 has become the de facto standard across the global payments industry. Wholesale, retail, open banking and even card payments are making their way towards ISO 20022 with nearly all new infrastructure projects being based on the standard. By 2025 it will be the universal standard for high, or large-value payments systems of all reserve currencies, and will support 80% of transaction volumes - and 87% of transaction value globally.

In Europe, SWIFT and the European Central Bank have announced ISO 20022 go-live dates of March 2023 for the standard in the settlement space. The Federal Reserve system in the US has also pencilled March 2025 for its implementation deadline for the Fedwire Funds Service and May 2023 for FedNow, whilst the UK is heading for June 2023. Australia, Canada and New Zealand will also all go live in 2023. However, countries such as India and Switzerland have already implemented ISO 20022 for settlement and many countries around the world have already launched ISO 20022 retail payments infrastructures.

In this white paper, we review two approaches to the launch of ISO 20022-based infrastructure and consider how to prepare for future innovations as we look forward to another 20 years of ISO 20022.


Fill the form below and read the full white paper.


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