The global standard for payments messaging

ISO 20022

What is ISO 20022?

ISO 20022 XML (eXtensible Mark-up Language) is an established global standard for payments messaging.  Most payments to and from the European Union are already based on this standard.

Over time, ISO 20022 XML will be used by all Payment Service Providers (PSP) in the U.K. for all payment products starting with CHAPS and International (Currency) payments. 

It will deliver a common language and model for exchanging payments data across the globe, provide richer and higher quality information than current messaging standards and better enable future innovation and development in the UK payments ecosystem.

Depending on the payment types and payments data services you use, it also means there may be a need to make changes to the way you send/ receive and process domestic and international payments which in turn could bring future benefits.

Our migration approach

Our ISO 20022 migration strategy is being determined by the approach taken by the Scheme operators and regulators. 

We’re currently migrating to a new way of processing payments on a phased basis to support the ISO 20022 requirements. Until this is fully completed, messages are likely to be translated between MX and MT and truncated where Enhanced data is present.

To find out more, please speak to your Migration Manager or get in touch below.

The benefits of ISO 20022

The main benefit of ISO 20022 for customers is a more efficient and compliant payments experience as well as harmonising with international payments systems.

Brochures, factsheets and scheme updates

The latest developments and scheme updates including Bank of England CHAPS, Euro payments and SWIFT.

ISO 20022 resources from SWIFT

Go back to basics with this 'ISO 20022 made simple' video and download the 'ISO 20022 for dummies' e-book, both compliments of SWIFT.

Download "ISO 20022 for dummies"

Watch this space

Changes coming soon

NPA ISO 20022

In continuation of our journey to deliver our ISO 20022 outcomes for our customers, we are currently working through the impact of the latest New Payment Architecture (NPA) timeline from Pay.UK. Our assessment themes will continue to cover: market overlays and associated benefits, fraud prevention and keeping our customers safe; enhanced data led propositions and services and interoperability opportunities within the UK and cross border.

Our Timeline

We’re currently working through the specific details of our timeline including when we’ll provide further information on how to support you in the adoption of LEIs (Legal Identity Identifiers) and Purpose Codes.

Questions you may have

Impacts of ISO 20022

Get in touch

If you’re an existing client of the bank, get in touch with your Relationship Manager directly.

Alternatively you can call  0345 246 4401

Relay UK Service: 18001 0345 246 4401

If you’re new to the bank or prefer to register your interest, you can email your details using the link below and we’ll be in touch.

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