Swift Extends the November ISO 20022 Structured Address Deadline After Bank Pushback
Finextra·low signal
Swift accepted a request to extend its November deadline for migrating from unstructured to structured postal addresses in ISO 20022 payment messages, after a group of banks said they could not comply in time. Structured addresses are the prerequisite for automated sanctions screening and any downstream ML on payment data, so the slip pushes back a dependency for a lot of fintech automation. Second major ISO 20022 milestone to move rather than hold.