SWIFT MT to MX conversion

Sharing the official link from SWIFT for MT to MX equivalent messages.

https://www2.swift.com/knowledgecentre/publications/stdsmt_mt_mx_eq_tbl/2.0

Yes still lot of payment solutions are busy in making this change but few advance ISO20022 compliant solutions (Yes Finacle Payment Hub is ISO20022 compliant solution) have not much to worry , as already they are dealing with such message formats.

Few noticeable points:

1. Single MX message will be able to cover multiple SWIFT messages. Ex Pacs.008 can manage MT 103 and MT102. or camt.052 can manage MT941/942/971/972. so MX is providing advantage ,where less number of message formats have to be dealt with.

2. SWIFT has not identified mapping for few MT messages for payments, Ex MT190/191/199 /290/291/299 types.

3. Already lot of changes happened related GPI , so equivalent to GPI, SWIFT needs to announce . Either push MX or push GPI else this chaos will keep on continued.

seems that most of the vendors and banks have to carry on both (MT and MX ) for pretty long time, though at first glance it always looks that MX has the edge. SWIFT itself mentions MX as richer, smarter and faster.

As per original plan of SWIFT> MT category 1, 2 and 9 messages used in cross-border and cash reporting payments will be decommissioned in November 2025. so next 4 years going to chaotic for banks and payment system providers.