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IBA asks bank to speed up ISO 20022 shift
Financial Express Chandigarh
|July 21, 2025
The Indian Banks' Association (IBA) has urged banks to accelerate the implementation of SWIFT ISO 20022 norms, warning that failure to do so could result in difficulties in cross-border payments.
Banks must begin the migration process by August to allow sufficient buffer time to monitor ISO 20022 transaction volumes, IBA chief executive Atul Kumar Goel stated in a recent letter addressed to the heads of banks.
This story is from the July 21, 2025 edition of Financial Express Chandigarh.
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