CBPR+ ISO2002 Implementation: 10 Key Questions that Banks to reflect on

ISO 20022 for SWIFT's Cross-Border Payments and Reporting Plus (CBPR+) time line of Nov 2025 is in near proximity and here are 10 Key questions that Banks/FIs need to reflect on to be ready for CBPR+

In this short article, I have tried to provide the leads/signals to the answers (??) to these questions.

10 Key Questions with ??

?

1.?How does CBPR+ with ISO 20022 aim to address industry pain points?

?? through Structured Data,

?? huge use cases of Structured Data further, also in terms of layering services

?? Easy Reconciliation

?? helps in adhering to Compliance Report

2.?Are CBPR+ messages such as PACS/PAIN/CAMT ISO20022 MX messages exact replica of standard ISO 20022 messages?

?? No

?? Standard ISO 20022 is super set of fields

3.?Which MT messages are really getting retired for CBPR+ & when?

?? MT102,

?? MT102(STP),

?? MT103(REMIT),

?? MT202,

?? MT203

?? by Nov 2025

4.?Which all new MX messages OR new fields under specific MX messages are getting introduced under CBPR+ & when can we expect them?

?? Introduction of Exceptions & Investigations (E&I) MX messages like camt.110 (Investigation Request ) and camt.111 ( Investigation Response) - SR 2024

?? Introduction of Hybrid Postal Address - SR 2025

?? Introduction of correspondence messages such as admi.024 - SR 2025

?? Deprecation of few other messages in SR 2026

5.?ISO 20022 adoption rate by Financial Institutions (FIs) is still around 30% globally, so what challenges hinder higher adoption rates?

?? Talent shortage,

?? Complex implementation system,

?? Bank readiness

?? Customer readiness

6.?Is the scope of change for CBPR+ limited solely to message transformation?

?? use cases in compliance,

?? use cases in fraud detection,

?? use cases in avoiding payment delay/rejections

?? additionally it's about industry collaboration

7.?What progress has been made on CBPR+ so far, and what is the roadmap post-2025?

?? Parallel run from Mar 2023,

?? End of Co-existence phase in Nov 2025,

?? Further SR 2025, SR2026 will widen CBPR+ scope with new MX.

8.?Will Banks still be able to send MT103/MT202 messages after November 2025, and what implications will this have?

?? Yes,

?? but there will be penalty for this in terms of additional fees

9.?What is the repercussion of CBPR+ changes on (High Value Payment System Plus) HVPS+?

?? Cross border payments getting settled through HVPS+ to comply with it

?? ISO 20022 for CBPR+ & individual HVPS+ may have delta

?? e.g. Payment message have to follow HVCS of Australia or Fedwire of USA or CHAPS in UK as per it's own HVPS+

10.?What benefits will CBPR+ bring to Banks, Corporates, Regulatory bodies, and the industry as a whole?

?? Avoids/Reduces payments delay/rejections,

?? Easy Reconciliation,

?? Fraud prevention,

?? Easy compliance reporting

?? and many more...

?

To conclude:

CBPR+ with ISO 20022 offers unique advantage for early adopters that can be leveraged to monetize on huge array of use cases of Customer First, Customer Experience Enhancements, Easy Reconciliation, Compliance/Regulatory requirements and so on.

Usage of Swift convertor will limit the banks to ride the wave of rich data from ISO20022 for commercial usage. So having full fledge support from banks on ISO 20022 for CBPR+ is demand of time.

Being Industry initiative, Banks need to support this initiative by adhering to the timelines provided by Swift

Please get in touch with us to understand how Payment Services Hub (iPSH) of Intellect Global Transaction Banking | iGTB can help you with very flexible solution approach on CBPR+ implementation as per bank’s need & adhering to the changing Global & Country specific regulatory requirements.

Note: I have not troubled AI agent to write anything except image generation :)

Link to my earlier related post ISO 20022 for CBPR+

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Reference : Swift.com