SWIFT to streamline standard migration process with new message translation offering
(WorldNews Belgium)

Toronto, 18 October 2017 - SWIFT is launching a message translation offering that will allow users to define and validate messages from any format to ISO 20022, streamlining the process of migrating to a new standard. As many market infrastructures (MIs) move to ISO 20022, financial institutions using older or proprietary message formats must ensure their messages remain compatible. Many legacy systems will need to be upgraded in order to process the new standards. This can be a costly and labour-intensive process, placing further time pressures on institutions and increasing operational risk. SWIFT Translator provides users with a new offering to tackle these challenges, making it easier,...