How to handle ISO15022 into ISO 20022 files transformation in line with Cross Boarder Payment Regulation?
The transition to ISO 20022 becomes increasingly urgent, financial institutions face challenges far more complex than mere data mapping. These obstacles include legacy systems and outdated messaging standards, where firms must not only translate ISO 15022 to the new format but also evaluate whether their current systems can deliver the required data granularity.
Additionally, organizations must weigh the choice between a quick, tactical transition or a more strategic approach that ensures continuous data evolution. Lastly, they must unlock the full potential of ISO 20022 by leveraging its enhanced automation, data reconciliation, and standardized payments messaging to drive greater efficiency and operational excellence.
With the CBPR+ compliance deadline approaching in November 2025, institutions need a seamless solution to manage the ISO 20022 migration.
Xchanger, VERMEG’s robust and flexible digital solution, simplifies financial data transformation while ensuring compliance:
• ISO 15022 (MT) and 20022 (MX) support: Real-time mappings for seamless transitions.
• Bi-directional transformations: Easily integrate with existing systems.
• Quick and easy deployment: On-premises or in the cloud, without disrupting operations.
Xchanger has helped central banks and CCPs successfully meet their compliance and data transformation needs, demonstrating its efficiency in handling complex migrations like CBPR+.
Available as a stand-alone module, enabling conversion between ISO 15022 and 20022 formats, as well as between these formats and any internal format.
Compliance with SRD II standards for Proxy-Voting process management.
Supports all types of in-out messages, including other standards and internal formats (.xml, xls, csv, json, api, web services…)
Automatic tracking and updates for ISO 20022 format evolutions.
Exception-based management of received and sent messages, maximizing STP (Straight Through Processing) automation.
Enhanced security and integrity for internal and external message flows
Integrated dashboard and control console for comprehensive management.
Available in SaaS mode for flexible deployment.
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