ISO20022 SWIFT CBPR+ update
Background
In 2022 SWIFT launched the Cross Border Payment & Reporting+ program which aims at migrating the existing MT1XX, 2XX, 9XX flows in the interbank space to MX/ XML format which is used in the SEPA world today. All MT payment, reporting, investigation, etc. formats needed to be migrated to PACS, CAMT and PAIN before Nov 2025. After that date, SWIFT would no longer allow these MT formats on its network and the message would not be acknowledged (NACKED).
After the CBPR+ GO LIVE in March of 2023, SWIFT implemented a major milestone by allowing MX payment messages (PACS) to be exchanged between banks. As from that moment banks had to be able to receive incoming PACS messages from other banks. In case a bank was not ready to receive these PACS, it could opt for a Translator services converting the MX back to MT payment format. Some banks, like ING, decided to also migrate their outgoing traffic to PACS to ensure end-to-end processing. This was not mandatory since banks can still send out MT payment formats (e.g. MT103, 202, 202COV) until Nov 2025.
During the summer of 2024, after SWIFT performed a survey on ISO20022 readiness at the top 175 global banks, it became clear that the adoption rate was not progressing as planned. The banking community had difficulties adopting the full scope of ISO. In Sept 24 roughly 25% of the incoming payment traffic over SWIFT was MX PACS based, meaning that ¾ payment transactions is still MT based. The migration to MX Reporting CAMT and Pay Initiation PAIN virtually did not start.
After facing this reality SWIFT had to re-prioritize the CBPR+ implementation as banks simply could not keep up with all types of regulatory changes happening in the market. This led to a revised plan where SWIFT wants to primary focus on implementing MX ISO for payment related formats by Nov 25. In other words, the banking community has (a bit) more time to migrate their investigation, reporting and other MT processes to MX.
Scope (last update January 25)
Following guidelines on scoping can be found on swift.com:
CBPR+ aims at migrating cross-border payments and cash reporting messages on the Swift network used in the interbank space. This includes all messages exchanged between Supervised and/or Non-Supervised user categories (SUPE and NOSU). MT message exchanges in the Swift for Corporates (SCORE) service will continue as they are for the foreseeable future. Closed User Groups operated by non-Swift entities (i.e. Payment Market Infrastructure Closed User Groups) will continue as they are for the foreseeable future. Other categories of MT messages (e.g. MT 3xx, 5xx) won’t be impacted and can therefore still be used after the end of coexistence.
Corporate entities are not subject to CBPR+ initiative of SWIFT. However, if a corporate client has a question/s on certain topics/messages, please reach out to your ING Relationship team.
In a nutshell, what does that mean?
Message exchange between Supervised (SUPE) and/ or Non-Supervised (NOSU) entities are subject to CBPR+ and need to be migrated to MX formats. Most of these SUPE and NOSU Swift client types operate in the Swift interbank space and will have to adopt MX on the FIN+ Swift service. Focus is on migrating away from MT payment format by Nov 25:
| MT formats removed from the network as of Nov 25 | (MT102, MT103 remit, MT201, MT203) |
| MT Payment formats need to be migrated to PACS before Nov 25 | (MT103, MT200, MT202, MT205) |
| MT Investigation formats to be migrated to CAMT before Nov 26 | (MTx92, MTx95, MTx96, MTx99) |
| MT Reporting formats to be migrated to CAMT – no official MT end date yet | (MT210, MT9xx) |
| MT Charge formats to be migrated to CAMT – no official MT end date yet | (MTx90, MTx91) |
| MT Free formats to be migrated to CAMT – no official MT end date yet | (MTx98, MTx99) |
| MT Payment initiation formats to be migrated to PAIN – no official MT end date yet | (MT101 single interbank) |
| Others -> please check abovementioned table | (trck, admi) |
In case SUPE/ NOSU Swift client types cannot migration to PACS before Nov 25, Swift is offering an MT to MX conversion service. This way the Swift client can remain on MT while Swift will convert the MT payment format into an MX on its network. It is not clear how much this Swift conversion service will cost and how long it will be available. ING has the ambition to become full MX before Nov 25 and is not planning to opt in for this conversion service.
In the event a Supervised (SUPE) and/ or Non Supervised (NOSU) entities are not acting as financial institutions and do not deem to be subject to CBPR+ because their activities are deemed to be commercially oriented, it is the advice of Swift to contact your local Swift Account Manager to discuss your specific setup and implications for CBPR+.
ING’s MX readiness and product offer
PACS Payment formats - most ING entities have incoming and outgoing PACS functionality. Almost 80% of our overall (ING Group) outgoing payment traffic is PACS based. Some entities like ING TR, LUX, BMG are planning to move their outgoing MT pay traffic to PACS before summer. Some of our Eastern European branches are undergoing a core bank migration to MX and will be ready to send out PACS in the second half of 2025. Nevertheless, all branches of ING will be fully PACS (in/ out) compliant by Nov 2025. More info on ING’s readiness for PACS can be found in the attached table below.
MX pay format (FIN+) | MT equivalent (FIN) | Description | Swift Timeline |
PACS.008 | MT103 | Customer Credit Transfer | Available on FIN+ since March 2023. |
PACS.009 | MT200 / 202 | Financial Institution Transfer | Available on FIN+ since March 2023 |
PACS.009 COV | MT202 COV | Financial Institution Transfer Cover | Available on FIN+ since March 2023 |
PACS.004 | MT103 / 202 RETRUN | Return of Funds | Available on FIN+ since March 2023 |
PACS.002 | No MT equivalent | Status Report Message | Available on FIN+ since March 2023 |
CAMT reporting formats – ING is currently able to offer CAMT MX reporting services in several of its entities for the intraday and end of day reporting. Many of our entities offer an extended like-for-like MX report which means the CAMT contains the same attributes found in the MT report but is enriched with some key additional MX reference for convenience (e.g. UETR, E2E ID). More information can be found in the attached examples.
These MX reporting services are available on an opt-in basis and when enabling CAMT for a client (per BIC), the existing FIN+ RMA needs to be updated. We highly advise organizing basic testing upfront where reconciliation validation at client side should be included. Please reach out to your ING Relationship Manager if interested in enabling and/or testing our new CAMT services. More info on ING’s readiness for CAMT can be found in the attached table below.
MX reporting format (FIN+) | MT equivalent (FIN) | Description | Swift Timelines |
CAMT.052 (v8) | MT941 / 942 | Balance / Interim Transaction report | Available upon request in several ING entities (opt in) |
CAMT.053 (v8) | MT940 / 950 | End of day Customer / Bank Statement | Available upon request in several ING entities (opt in) |
CAMT.054 (v8) | MT900 / 910 | Confirmation of Debit / Credit | Available upon request in several ING entities (opt in) |
PAIN Payment initiation formats – MT101’s exchanged in the interbank space by SUPE/ NOSU FI clients will have to be migrated to MX PAIN format. However, with the last update, SWIFT deprioritized it from Nov 25 scope.
Please note, that the changes in the initiation space involve more aspects:
- Interbank message change from MT101 to PAIN.001
- Interbank legal contract part. Currently, almost all interbank MT101 exchange between FI’s is agreed in a separate FI (MT101) Bilateral agreement that is referring to this Swift SLMA-RFT (Swift’s Service Level Master Agreement – Service Level Request for Transfer) However, SWIFT plans to replace it with a new Rulebook for Payment Initiation Relay for the Business Rules around the exchange of the new interbank pain.001 and related messages as pain.002, camt.055 and camt.029.
- More info on above topics can be found on Swift Document Centre – Standards Service Level Agreements
ING is working hard on the topics. Please reach out to your ING Relationship Manager if you are interested in enabling and/ or testing PAIN with us.
See also Standards MT November 2025 - Standards Release Guide – publication 13-12-2024 (Swift account needed)
MX pay initiation format (FIN+) | MT equivalent (FIN) | Description | Swift Timeline |
No MX equivalent | MT101 (multiple) | (interbank) Request for Transfer (multiple) | Will be removed when migrating to PAIN |
pain.001 (.001.09) | MT101 (single) | (interbank) Customer Credit Transfer Initiation | Available upon request in several ING entities (opt in) |
pain.002 (.001.10) | No MT equivalent | (interbank) Customer Payment Status Report | Available upon request in several ING entities (opt in) |
camt.055 (.001.08) | MT192 | Customer Payment Cancellation Request | Available upon request in several ING entities (opt in) |
camt.029 (.001.09) | MT196 | Resolution Of Investigation | Available upon request in several ING entities (opt in) |
For zooming in the MX progress of a particular ING entity servicing FI clients, see also our page ING entities capabilities table.