Community Session on ISO 20022 Readiness co-hosted by Indian Banks' Association (IBA)
Objective
To provide 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
Migration Status Overview
Swift presented global ISO 20022 adoption trends, with a specific focus on India’s current progress and upcoming milestones. The comparative analysis offered valuable insights into India’s positioning relative to international benchmarks.
Industry Perspectives
Senior representatives from SBI, ICICI Bank, and J.P. Morgan shared practical insights from their ISO 20022 implementation journeys. Discussions centered on key learnings, operational challenges, and actionable best practices to support peer institutions.
Strategic Guidance
Mr. A K Goel, CE IBA addressed the banking community, underscoring the urgency of timely implementation.
Mr. Saswat Mahapatra, GM DPSS, RBI expressed strong support for the initiative and emphasized the need to enhance the speed and efficiency of cross-border remittances as part of the broader migration effort.
Participation Overview
- Over 50 banks represented
- More than 120 industry professionals in attendance
Key Takeaways
The session reflected strong industry engagement. With momentum building across the sector, banks are expected to accelerate their efforts and achieve full compliance well ahead of the November 2025 deadline.