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      For Your Business November 21, 2025

      ISO 20022 and SWIFT Messaging: How Old National Bank is Evolving Our International Payment Capabilities

      The global payments industry is transitioning to ISO 20022, a new messaging standard that replaces decades-old SWIFT message formats. On November 22, 2025, the familiar MT103 and MT202 messages will be retired in favor of pacs.008 and pacs.009 - a change that impacts every bank handling cross-border payments.

      At Old National Bank, we're embracing this transformation as an opportunity to enhance our SWIFT messaging services for clients.

       

      Understanding the Change

      The shift from MT to MX (ISO 20022) formats represents a fundamental improvement in payment messaging. Where legacy formats limited payment details to 140 characters, the new standard allows up to 9,000 characters of structured, machine-readable data.

      This means clearer payment instructions, better compliance screening, and significantly improved reconciliation processes.

      For businesses managing international transactions, these aren't just technical improvements - they're practical solutions to real operational challenges.

       

      Our Approach

      Old National Bank is taking a thoughtful, phased approach to ISO 20022 implementation. We're meeting the November requirements for MT103 and MT202 migration while developing a roadmap for additional ISO message types in 2026. This measured strategy ensures service continuity while we strengthen our infrastructure for the future.

      We recognize we're not first to market with full ISO 20022 capabilities. Instead, we're focused on delivering reliable, well-tested solutions that our clients can depend on during this critical transition period.

       

      SWIFT Services at Old National

      Many businesses may not realize that Old National Bank offers comprehensive SWIFT messaging services. We support:

      • International wire transfers

      • Bank-to-bank payment messaging

      • Cross-border payment processing

      • Foreign currency transactions

      Our SWIFT platform serves manufacturers, healthcare systems, educational institutions, and other businesses with international payment needs throughout our markets.

       

      Benefits for Your Business

      The ISO 20022 migration delivers tangible advantages:

      • Enhanced payment transparency with detailed remittance information

      • Reduced payment investigations through improved data quality

      • Streamlined compliance with structured, searchable data fields

      • Better integration with enterprise resource planning (ERP) systems

      • Future compatibility with emerging payment technologies

       

      Looking Forward

      As we implement ISO 20022 standards, we're also investing in the broader modernization of our payment infrastructure. This includes enhanced testing environments, expanded training programs, and dedicated support resources to ensure a smooth transition for our clients.

      The payments landscape will continue evolving beyond November's deadline. Old National Bank is committed to advancing our capabilities in line with industry standards while maintaining the stability and reliability our clients expect.

       

      Partner with Us

      Whether you're currently using our SWIFT services or exploring international payment solutions, our team is ready to discuss how ISO 20022 changes might impact your operations. We combine the resources of a $70+ billion institution with the personalized service that has defined Old National for nearly two centuries.

      The ISO 20022 migration isn't just about meeting regulatory requirements - it's about positioning your business for success in an increasingly connected global economy.

      To learn more about our SWIFT messaging services or discuss your international payment needs, connect with our Treasury Management team.

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