The SWIFT organisation and the financial industry have decided to replace the traditional SWIFT MT (Message Type) communication standard introduced in 1977 with the new universal XML_ISO20022 format, also known as MX. This XML-based format will apply to all interbank cross-border payments and bank reporting, i.e. SWIFT bank statements. .
XML_ISO20022 (MX)
International standard for electronic communication in financial systems
What is XML_ISO20022 (MX) and what does it mean for Customers?
Cross-border transfers and high-value payments (HVPs) have recently seen improvements in quality, speed and automation. However, communication between the infrastructures of different financial markets, institutions and settlement systems remains less efficient due to the various financial communication standards used in different countries and settlement systems, such as the SEPA system or the Polish Elixir system.
Solution: XML_ISO20022 (MX)
Collaboration, accuracy and comprehensive data
Migration to the XML_ISO20022 message format enables full interoperability between different settlement systems. The migration process is supported by participants in financial settlement systems and endorsed by national central banks.
The new standard allows payment messages to contain a much greater amount of payment data. This detailed information provides greater clarity about each payment chain participant, including both payers and payees.
Security
Structured and detailed data plays a crucial role in enhancing automation and control over regulatory compliance for transfers. This includes ensuring adherence to anti-money laundering (AML) regulations and enabling funds to be credited to a payee's account more quickly.
Who is affected?
The ISO 20022 migration primarily affects the interbank area. Customers will still be able to order and receive payments and bank statements in the same way as today, using MT formats. However, over time, the new XML_ISO20022 formats will gradually replace Customer-bank-Customer communication. Therefore, it is advisable for Customers to start preparing for the migration process as soon as possible.
First stage of migration: completed
The first stage took place in March 2023. Payment messages for cross-border and high-value transfers used in the TARGET2 settlement system were migrated to the XML_ISO20022 standard. TARGET2 is a pan-European real-time settlement system for EUR, involving European central and commercial banks. This stage concerned only interbank communication and did not affect bank Customers.
Second stage: global migration
November 2025
- Key MT payment messages in groups 1 (MT102, MT103) and 2 (MT202, MT202COV) will be withdrawn from the global interbank area.
- These will be replaced by the new XML_ISO20022 formats: pacs.008 and pacs.009.
November 2026- Group 9 MT bank statements (MT942, MT940, MT950) will be migrated. These messages will be replaced by the XML_ISO20022 formats: camt.052 and camt.053, respectively.
- The use of structured addresses for payment participants in commercial transfers will be made mandatory. Participant identification and address details will be structured and highly detailed, ensuring unambiguous and error-free identification. The currently used unstructured addresses will be phased out.
What does the migration process look like in Poland?
- Migration to the XML_ISO20022 format is taking place in parallel in Polish settlement systems.
- In June 2025, Sorbnet3 (Poland’s real-time interbank settlement system for PLN) will be migrated.
- In 2027, the Polish Elixir system is expected to migrate to the XML_ ISO20022 standard.
Since 2022, BNP Paribas Bank Polska has been preparing and adapting its systems and teams for SWIFT communication in the XML_ISO20022 standard. We can already receive the new XML formats, but are converting them into the MT format for operational purposes.
When will the bank start sending XML_ISO20022 messages?
- In June 2025, first XML_ISO20022 messages will be sent to the SWIFT network as part of the Sorbnet3 system migration.
- The bank's migration exclusively to the new XML_ISO20022 formats for SWIFT communication with external systems will align with SWIFT's planned migration stages in November 2025 and November 2026.
In parallel with preparations for communication with external settlement systems, we are also working on adapting local systems and applications for Customer use, with the most advanced work in our bank being carried out in the GOonline Biznes system. .
What is already in place?
A new XML_ISO20022-compliant camt.053 report (bank statement) template is now available.
What is being prepared?
- The international transfer form and the RPI (Remote Payment Initiation) Transfer will follow.
We will inform you in advance of any upcoming changes.What will remain unchanged?
The adoption of XML_ISO 20022 in the interbank area will not change Customer-bank-Customer communication at BNP Paribas Bank Polska. If you currently communicate with the bank using the MT format, e.g. to initiate payments (MT 101) and/or receive bank statements (MT 940), you will be able to continue doing so after the migration to XML_ISO20022.
In e-banking, the MT940 statement formats will remain accessible. Additionally, transfer forms for settlements in external systems communicating exclusively in the XML_ISO20022 standard will allow you to submit payment instructions in the same way as before. Despite the significantly expanded capacity and content of the XML_ISO20022 message fields, the data and mandatory information required for transfer forms will not change.
However, from November 2026, we will require more detailed information about your transfer payees due to the mandatory use of structured addresses for payment participants.
What is the main purpose of migration to the new standard?
This aims to address existing issues caused by, among other things, differing financial communication standards. The MT formats do not provide sufficient space to include all mandatory and regulatory information, such as the structured address of a payee.
How to benefit from the new standard?
Financial and payment service providers (PSPs) are expected to adopt the new XML_ISO20022 standards exclusively in the near future. To take advantage of the enriched communication data in payment transactions, you need to adapt your systems and migrate to the new standards as soon as possible.
It is advisable to familiarise yourself with the details of the new XML_ISO20022 standards and understand the structure of the messages that may be relevant to you. Based on this, you should develop a migration plan tailored to your needs and expectations, taking into account the testing phase.
When planning migration, you need to decide what accession formula to choose.
- Whether it will be the “big bang” approach, i.e. making all the necessary changes to your systems and switching to XML_ISO20022 in a one-off process for the purposes of initiating payments and receiving statements.
- Alternatively, you may wish to make only the necessary changes to your infrastructure, i.e. adaptation to receive camt.053 (camt.052) statements, the equivalent of MT94x messages. At a later stage, you can start sending payment instructions using pain.001 (MT101 replacement in the future).
NoteRegardless of the timeline you choose, we are committed to working closely with you throughout the transition process. Our aim is to ensure that your systems are well prepared to migrate to XML_ISO20022.
Migration to the XML_ISO20022 formats has already begun and will continue without interruption. While implementation dates for certain message types can be postponed or migration timelines for selected systems can be changed, the replacement of the MT standards with XML_ISO20022 is certain. This migration is necessitated by ongoing changes in financial settlements.
We encourage you to familiarise yourself with the material available in the new formats section.
Note
Please take your migration plan very seriously. It must align with the overall timeline, while also addressing your specific needs and expectations.
Please refer to the SWIFT MT standards and the XML_ISO20022 standards replacing them, available in the SWIFT documentation and website resources (source: www.swift.com - login required):
MT1xx vs pacs.008 and pain.001
pacs008_CBPRPlus-pacs_008_001_08_FIToFICustomerCreditTransfer_20241213_0811
pain001_CBPRplus-pain_001_09_CustomerCreditTransferInitiation_20241213_0956
MT2xx vs pacs.009 and pacs.009COVpacs009_CBPRPlus-pacs_009_001_08_ADV_FinancialInstitutionCreditTransfer_20241213_0956
pacs009cov_CBPRPlus-pacs_009_001_08_COV_FinancialInstitutionCreditTransfer_20241213_0956
MT9xx vs camt.052 and camt.053camt052_CBPRPlus-camt_052_001_08_BankToCustomerAccountReport_20241213_0956
camt053_CBPRPlus-camt_053_001_08_BankToCustomerStatement_20241213_0956
First stage of migration: completed
The first stage took place in March 2023. Payment messages for cross-border and high-value transfers used in the TARGET2 settlement system were migrated to the XML_ISO20022 standard. TARGET2 is a pan-European real-time settlement system for EUR, involving European central and commercial banks. This stage concerned only interbank communication and did not affect bank Customers.
Second stage: global migration
November 2025
- Key MT payment messages in groups 1 (MT102, MT103) and 2 (MT202, MT202COV) will be withdrawn from the global interbank area.
- These will be replaced by the new XML_ISO20022 formats: pacs.008 and pacs.009.
November 2026- Group 9 MT bank statements (MT942, MT940, MT950) will be migrated. These messages will be replaced by the XML_ISO20022 formats: camt.052 and camt.053, respectively.
- The use of structured addresses for payment participants in commercial transfers will be made mandatory. Participant identification and address details will be structured and highly detailed, ensuring unambiguous and error-free identification. The currently used unstructured addresses will be phased out.
What does the migration process look like in Poland?
- Migration to the XML_ISO20022 format is taking place in parallel in Polish settlement systems.
- In June 2025, Sorbnet3 (Poland’s real-time interbank settlement system for PLN) will be migrated.
- In 2027, the Polish Elixir system is expected to migrate to the XML_ ISO20022 standard.
Since 2022, BNP Paribas Bank Polska has been preparing and adapting its systems and teams for SWIFT communication in the XML_ISO20022 standard. We can already receive the new XML formats, but are converting them into the MT format for operational purposes.
When will the bank start sending XML_ISO20022 messages?
- In June 2025, first XML_ISO20022 messages will be sent to the SWIFT network as part of the Sorbnet3 system migration.
- The bank's migration exclusively to the new XML_ISO20022 formats for SWIFT communication with external systems will align with SWIFT's planned migration stages in November 2025 and November 2026.
In parallel with preparations for communication with external settlement systems, we are also working on adapting local systems and applications for Customer use, with the most advanced work in our bank being carried out in the GOonline Biznes system. .
What is already in place?
A new XML_ISO20022-compliant camt.053 report (bank statement) template is now available.
What is being prepared?
- The international transfer form and the RPI (Remote Payment Initiation) Transfer will follow.
We will inform you in advance of any upcoming changes.What will remain unchanged?
The adoption of XML_ISO 20022 in the interbank area will not change Customer-bank-Customer communication at BNP Paribas Bank Polska. If you currently communicate with the bank using the MT format, e.g. to initiate payments (MT 101) and/or receive bank statements (MT 940), you will be able to continue doing so after the migration to XML_ISO20022.
In e-banking, the MT940 statement formats will remain accessible. Additionally, transfer forms for settlements in external systems communicating exclusively in the XML_ISO20022 standard will allow you to submit payment instructions in the same way as before. Despite the significantly expanded capacity and content of the XML_ISO20022 message fields, the data and mandatory information required for transfer forms will not change.
However, from November 2026, we will require more detailed information about your transfer payees due to the mandatory use of structured addresses for payment participants.
What is the main purpose of migration to the new standard?
This aims to address existing issues caused by, among other things, differing financial communication standards. The MT formats do not provide sufficient space to include all mandatory and regulatory information, such as the structured address of a payee.
How to benefit from the new standard?
Financial and payment service providers (PSPs) are expected to adopt the new XML_ISO20022 standards exclusively in the near future. To take advantage of the enriched communication data in payment transactions, you need to adapt your systems and migrate to the new standards as soon as possible.
It is advisable to familiarise yourself with the details of the new XML_ISO20022 standards and understand the structure of the messages that may be relevant to you. Based on this, you should develop a migration plan tailored to your needs and expectations, taking into account the testing phase.
When planning migration, you need to decide what accession formula to choose.
- Whether it will be the “big bang” approach, i.e. making all the necessary changes to your systems and switching to XML_ISO20022 in a one-off process for the purposes of initiating payments and receiving statements.
- Alternatively, you may wish to make only the necessary changes to your infrastructure, i.e. adaptation to receive camt.053 (camt.052) statements, the equivalent of MT94x messages. At a later stage, you can start sending payment instructions using pain.001 (MT101 replacement in the future).
NoteRegardless of the timeline you choose, we are committed to working closely with you throughout the transition process. Our aim is to ensure that your systems are well prepared to migrate to XML_ISO20022.
Migration to the XML_ISO20022 formats has already begun and will continue without interruption. While implementation dates for certain message types can be postponed or migration timelines for selected systems can be changed, the replacement of the MT standards with XML_ISO20022 is certain. This migration is necessitated by ongoing changes in financial settlements.
We encourage you to familiarise yourself with the material available in the new formats section.
Note
Please take your migration plan very seriously. It must align with the overall timeline, while also addressing your specific needs and expectations.
Please refer to the SWIFT MT standards and the XML_ISO20022 standards replacing them, available in the SWIFT documentation and website resources (source: www.swift.com - login required):
MT1xx vs pacs.008 and pain.001
pacs008_CBPRPlus-pacs_008_001_08_FIToFICustomerCreditTransfer_20241213_0811
pain001_CBPRplus-pain_001_09_CustomerCreditTransferInitiation_20241213_0956
MT2xx vs pacs.009 and pacs.009COVpacs009_CBPRPlus-pacs_009_001_08_ADV_FinancialInstitutionCreditTransfer_20241213_0956
pacs009cov_CBPRPlus-pacs_009_001_08_COV_FinancialInstitutionCreditTransfer_20241213_0956
MT9xx vs camt.052 and camt.053camt052_CBPRPlus-camt_052_001_08_BankToCustomerAccountReport_20241213_0956
camt053_CBPRPlus-camt_053_001_08_BankToCustomerStatement_20241213_0956
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