Old National Bank Advances Business Digital Tools, SWIFT Architecture to Further Empower Clients

ISO 20022, the new international standard for electronic data interchange for payments, securities, and trade services, is providing increased transaction automation, reduced errors, improved regulatory compliance, and improved payments tracking. Old National Bank remains on the cutting edge of this technology modernization for business clients, improving competitive positions with various digital automation options.

Old National in Q1 of 2026 accelerated its technology modernization with the completion of a major upgrade to its SWIFT (Society for Worldwide Interbank Financial Telecommunication), delivering the new, highly secure ISO 20022‑compliant international payment messaging designed to improve transparency, efficiency, and global transaction speed.

“Whether clients are currently using our SWIFT services or exploring international payment solutions, our team is ready to discuss how the recent ISO 20022 changes might impact client operations,” said Joe Wicklander, Old National Bank’s President of Treasury Management & Merchant Services. “With this partnership we’ve significantly enhanced our Treasury Management offerings.”

For ONB’s business customers, the advantages are substantial. Companies engaged in global trade now benefit from end‑to‑end transaction visibility, accelerated cross‑border payment cycles, and higher data quality enabled by ISO 20022 standards. For Old National business clients, these enhancements translate into improved access to digital banking tools, streamlined processes, and increased reliability across financial operations. The combination of AI‑powered analytics, agile system integration, and upgraded international payment infrastructure empowers clients to make data‑driven decisions, automate workflows, enhance security, and pursue digital expansion strategies with greater confidence.

Old National’s suite of SWIFT-compliant digital banking tools for business clients includes:

Digital bill pay portal

As your business grows and you complete more transactions, there’s a key metric worth keeping a close eye on: the time it takes to collect payments from sales.

A bill pay portal allows you to deliver bills or invoices and accept payments through a variety of digital channels, replacing the need for customers to pay by paper check. These digital payments are more secure, as checks can get lost or stolen in the mail. Portals are often customizable as well, meaning organizations can integrate them seamlessly into their websites and offer the specific tools their customers need. This can boost the customer experience, which can in turn increase brand loyalty and lead to more sales down the road.

Integrated payables

Paper checks continue to be widely used in many organizations; however, they introduce avoidable inefficiencies and elevated processing costs. Industry research indicates that issuing a single check can cost more than $2 when accounting for printing, postage, and labor, an expense that compounds significantly over time.

Integrated Payables solutions enable organizations to transition from paper-based workflows to electronic payment methods such as ACH and virtual cards, reducing manual intervention and accelerating payment delivery.

Integrated receivables

For many organizations, the receivables function has long been a patchwork of systems, file formats, and manual workarounds. Cash‑application process frequently lags behind and is still dependent on spreadsheets, email attachments, and staff-intensive exception handling.

Checks continue to circulate, especially in industries like healthcare, professional services, government, and B2B trade while ACH, wires, credit card payments, and emerging digital channels grow steadily. Each payment method arrives with its own data format, timing, and level of remittance detail. This not only slows the cash‑application cycle but also introduces the risk of delays, errors, and misapplied funds.

A virtual vault

Franchise operators today face a number of barriers to success, including a growing number of competitors, a tight labor market, and rising costs due to inflation. Operators need the right teams around them doing the right work, and they need to keep a watchful eye on their finances.

A critical but often overlooked part of this equation is an operation’s cash management strategy. While more and more transactions are being made by card, plenty of sales are still completed with cash, and this means that businesses are often left with a lot of money on hand at the end of the day. Being able to quickly and efficiently process this cash can support your operation’s talent and financial goals.

Read More: Effective cash management makes dollars and sense for franchise operators

Digital Tools/APIs

In today's fast-paced business environment, companies are increasingly turning to digital integration and leveraging modern, cloud-based enterprise resource planning (ERP) systems as key efficiency drivers and security measures for their financial processes.

These technologies have become crucial for organizations looking to reduce redundancy, automate processes and maintain a competitive edge. By leveraging digital integration and ERP systems, which are used to manage all aspects of a business on a day-to-day basis, organizations can streamline operations and significantly improve their bottom lines.

Together, Old National’s SWIFT architecture upgrade and expanded digital capabilities underscore our commitment to equipping business customers with cutting‑edge financial technology, creating significant opportunities for clients seeking global growth, modernization, and digital transformation.

Looking to enhance your company’s digital integration/digital transformation strategy? Contact ONB Treasury Management Client Services at 800-844-1720 or TMCommunitySales@oldnational.com for more information.

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