Objective
To support bank's technical queries and help them mitigate integration challenges. The session also aimed at providing an update on India’s ISO 20022 migration progress in alignment with the global readiness landscape ahead of the November 2025 deadline, and to foster knowledge sharing within the banking community.
Key Highlights:
Swift has been working closely with the Indian Banks Association in India throughout the year to create awareness around ISO 20022 adoption, with the November 2025 deadline drawing closer. Over the past few months, several dialogues have been held with the banking community, with another recent session further raising the momentum.
The ISO 20022 India Community Session, co-hosted by the Indian Banks’ Association (IBA) and Swift on 4 September 2025, witnessed strong participation from senior leaders across India’s banking community.
Delivering the keynote, Mr. A.K. Goel, Chief Executive of IBA highlighted that migration ticks all the boxes of improving time, cost and efficiency and hence emphasized the urgency for Indian banks to migrate before the global deadline. He reiterated IBA’s commitment in front-running this adoption alongside Swift and in helping translate the benefits of this global standard for the Indian banking community.
Mr. Kiran Shetty, CEO & Regional Head, India and South Asia, Swift, also underscored the urgency of timely readiness and urged banks to accelerate their adoption journeys. He highlighted that while banks are at different stages of implementation, the collective goal remains clear: to ensure India’s smooth and complete migration to ISO 20022 by November 2025.
Takeaways
- IBA to lead and support all banks in the ISO 20022 migration.
- Swift to continue providing hands-on guidance and on-ground implementation support.
- Migration is just the start—next frontier is leveraging ISO 20022 data for efficiency, speed, and cost benefits.
- IBA & Swift to host webinars to fast-track projects and assist bank teams.
Participation Overview:
- Over 40 banks represented at the summit
- More than 125 industry professionals in attendance
The next frontier will be to leverage the rich data enabled by ISO 20022 to improve efficiency, accelerate speed, and reduce cost—unlocking value not just for banks but for the entire financial ecosystem.