Transformation Suite for ISO 20022
ConnectIQ’s Transformation Suite for ISO 20022 provides an advanced solution for organisations looking to adapt quickly and efficiently to the ISO 20022 financial messaging standard. Designed to reduce complexity and enable seamless interoperability, this suite ensures that your organisation can meet the demands of modern financial communications while maintaining the integrity of legacy systems.
With a unique no-code, drag-and-drop interface, ConnectIQ allows you to manage complex message transformations, validate data and streamline cross-border transactions – all without overhauling your existing infrastructure. Its powerful pre-built mapping libraries and comprehensive message validation capabilities ensure that your messages are compliant, accurate and ready for real-time global transactions.
CHALLENGES
Overcoming your greatest challenges can be tough; we’ve got you covered
The global adoption of ISO 20022 can lead to inconsistent practices across regions. Organisations often face challenges in ensuring operational consistency as different market implementations increase the complexity of managing cross-border transactions.
Legacy financial systems struggle to support the new message formats introduced by ISO 20022. This makes integration difficult, adding cost and operational challenges for organisations looking to modernise their transaction processing infrastructure.
The simultaneous use of multiple ISO 20022 standard versions and syntaxes creates interoperability issues. Organisations often struggle to manage evolving message formats, risking operational inefficiencies and communication breakdowns between different markets.
Regional regulations and country-specific requirements make ISO 20022 implementation complex. Organisations face the challenge of tailoring message formats to meet local market requirements, often leading to additional customisation efforts and compliance concerns.
The management of cross-border transactions is becoming increasingly complex due to the different levels of ISO 20022 adoption in different markets. Organisations struggle to adapt their processes to different financial standards, which can lead to delays and errors.
Without comprehensive message validation, organisations risk sending non-compliant financial messages, leading to operational inefficiencies and potential regulatory penalties. Ensuring message accuracy and compliance with ISO 20022 standards remains a significant challenge.
Converting and validating data between different financial message formats, such as SWIFT MT and ISO 20022, can result in data truncation and loss. This is a major obstacle for organisations seeking to ensure accuracy and consistency.
Many organisations lack the tools to track and monitor ISO 20022 messages in real time, making it difficult to gain actionable insights. This hinders their ability to optimise processes and ensure compliance with industry standards.
BECOME ISO 20022 READY
Want to build message transformations faster?
ConnectIQ’s Transformation Suite for ISO 20022 enables your organisation to effortlessly adapt to the evolving financial messaging landscape. With no-code, drag-and-drop functionality, pre-built mapping libraries and seamless data transformation, this solution accelerates your time to market while minimising operational costs. Manage complex message conversions, ensure compliance, and ensure smooth interoperability across multiple markets - all with intuitive tools designed for efficiency.
ISO 20022 STANDARD-BASED INFORMATION EXCHANGE THROUGH YOUR LEGACY SYSTEMS
Efficiently manage ISO 20022 transactions across borders
ConnectIQ is able to control and channel messages, making sure they arrive at the right destination on time. It connects your legacy system with correspondent and custody banks as well as market infrastructures, such as ACH, exchanges, etc. It minimises the changes required to business applications, and enables the sending and receiving of ISO 20022 messages in agreed variants and versions.
Through its parsing and building functionality, it handles the ISO 20022 integration issues and is able to trace and monitor ISO 20022 messages for searching, creating, modifying and repairing them.
Swift MT<>ISO 20022 MX: Transform your financial messaging with AI
Our AI-powered Transformer acts as a fluent translator between legacy SWIFT MT messages and ISO 20022 MX formats. Designed with an intuitive, no-code interface and smart mapping layouts, it enables real-time, seamless message conversion.
Two-way conversion made easy:
- MT (.txt) → MX (.xml)
- MX (.xml) → MT (.txt)
This ensures uninterrupted operations during your transition to the ISO 20022 standard.
Powered by advanced AI technologies — including transformer-based embeddings and natural language processing (NLP) — the solution automates:
- Message mapping
- Data truncation and enrichment
- Format transformation using a built-in library of messages and mapping accelerators
Built on a scalable, flexible architecture, it integrates easily with your existing infrastructure, giving you the confidence to scale as your operations grow.
BENEFITS
Benefit from AI-powered solutions directly at your fingertips
Accelerate your ISO 20022 implementation with ConnectIQ’s pre-built mapping libraries and intuitive drag-and-drop tools. This powerful solution shortens the development cycle, enabling faster time to market while reducing the complexity of financial message transformations.
ConnectIQ ensures seamless cross-border financial messaging with ISO 20022 by overcoming regional inconsistencies and aligning your processes with different market standards. Effortlessly manage global transactions while maintaining compliance with local regulations and requirements.
Ensure your financial messages comply with ISO 20022 standards with built-in validations that detect errors and anomalies. ConnectIQ’s configurable rules allow for deeper checks, giving you full control over message structure, syntax and semantics to ensure full compliance.
Reduce the cost of implementing ISO 20022 messaging by leveraging ConnectIQ’s powerful, code-free interface. Eliminate the need for extensive system overhauls and enjoy efficient data transformation and seamless integration with your existing infrastructure.
ConnectIQ bridges the gap between legacy systems and ISO 20022, enabling organisations to send and receive modern financial messages without costly upgrades. Maintain operational efficiency while keeping pace with evolving standards.
Easily transform financial data between formats with ConnectIQ’s advanced data transformation tools. Handle message variants and field length discrepancies between ISO 20022 and legacy standards such as SWIFT MT, ensuring accurate and reliable communication.
Gain complete visibility into your financial transactions with real-time message monitoring and tracking. ConnectIQ stores message histories, providing a complete audit trail for compliance and actionable insights to optimise operational workflows.
Stay ahead of financial messaging standards with a solution that adapts to changing requirements. ConnectIQ supports the coexistence of multiple message formats, ensuring your organisation is prepared for future market changes and evolving ISO 20022 standards.
Frequently Asked Questions
How does your solution extract structured data from SWIFT MT and ISO20022 MX messages?
Our platform connects and efficiently parses unstructured SWIFT MT messages, extracting key details and converting them into structured data for seamless processing. It is designed to extract and process structured data from ISO20022 MX messages, ensuring smooth data handling and integration.
How does your system map MT messages to ISO 20022 PACS formats?
We define transformation logic that accurately maps MT fields to their corresponding PACS elements, ensuring a smooth transition to ISO 20022.Below are some samples:
- MT103 → PACS.008 (Customer Credit Transfer)
- MT202 → PACS.009 (Financial Institution Credit Transfer)
- MT202COV → PACS.009COV (Cover Payment)
AI scans messages for missing or inconsistent data and enriches them using predefined business rules, ensuring accuracy and compliance. Our solution validates converted messages against SWIFT and ISO 20022 schemas to ensure accuracy and regulatory compliance.
How does AI enhance the automation of MT to MX format conversion?
AI and machine learning (ML) improve efficiency by learning patterns, detecting anomalies, enriching data, and predicting missing fields—reducing manual effort and enhancing compliance. Our ML models use supervised learning and pattern recognition to automatically map MT fields to the correct MX structure based on historical data. AI analyzes historical data and transaction patterns to flag unusual amounts, incorrect IBANs, or unexpected behaviors, preventing fraud and errors. AI normalizes data formats, correcting dates, amounts, and currency codes to comply with ISO 20022 standards.
How does Natural Language Processing (NLP) improve the extraction of structured data from free-text fields? How do you ensure accuracy of converted data?
NLP scans free-text fields (like: 70:, :72:, and :59:) to extract key details such as payment references, beneficiary details, and transaction purposes, reducing manual errors. NLP identifies suspicious keywords in payment notes and flags transactions for compliance review.
