ISO 20022 for companies Swiss payment transaction processes are being simplified and harmonized

The globally recognized ISO 20022 standard lets you optimize your payment transaction processes and your cash and working capital management. These processes will be fully digitalized and automated. This means you can process your payment transactions more simply and efficiently. To do this successfully, your payment software must be adjusted to the new standard.

What is changing in payment transaction processes

Link accounting and e-banking

Link accounting and e-banking

Manage incoming and outgoing payments

Manage incoming and outgoing payments

Make automatic payments

Make automatic payments

Create bills for dispatch by mail

Create bills for dispatch by mail

The Swiss Financial Center is introducing the new ISO 20022 standard in stages by 2020. During the transition phase, you can continue to use the previous procedures.

What you will be expected to do

What you will be expected to do

How to switch your software to ISO 20022

Standardized software

  • Contact your software partner and ask about their implementation plan
  • Plan and budget your update
  • Carry out the necessary configuration (e.g. bank details, account number, relationship number)
  • Test the new functionality on the UBS test platform

Individual software

  • Put your IT managers and/or your external software partners in charge of adjusting to ISO 20022
  • Plan implementation and testing
  • Test the new functionality on the UBS test platform