The present survey aims to capture key facts about the community’s readiness and approach for migration to structured ISO 20022 party addresses and identify any obstacles to be overcome.
Survey Disclaimer: This online survey should take about 10 minutes to complete. Participation is voluntary, and responses will be kept confidential to the degree permitted by the technology being used. Your personal data, such as contact name and e-mail address, if provided, will be used for follow-up questions by the PMPG only and will not be shared with any third party. It will be deleted from any records after completion of the research, but no earlier than April 28th, 2023.

Introduction
The adoption of ISO 20022 messages – with its richer and more structured data, compared with SWIFT MT messages – has been an industry response to the G20 objective of facilitating faster, cheaper, more accessible and more transparent cross-border payments. The complete and structured data eliminates friction and enhances the speed and efficiency of end-to-end payment processing:
– Financial Crime Compliance: Leading to less enquiries related to false-positive hits in Sanctions/Compliance screening and more efficient Anti-Money Laundering (AML) monitoring.
– Improved data quality for corporate customers: Supporting reconciliation processes, centralized accounts payable and accounts receivable processes and treasury centralization.
– Improved interoperability: Reducing friction for cross-border (instant) payments with aligned party addresses as defined by Instant Payments Plus (IP+), Cross-Border Payments & Reporting Plus (CBPR+) and High-Value Payment Systems Plus (HVPS+) guidelines.
ISO 20022 includes data elements to capture additional information regarding the parties (entities and persons) involved in the transaction. Each party’s name and address is defined in a granular structure that distinguishes ‘Name’ and the various components of address – ‘Building Number’, ‘Street’, ‘Town’, ‘Country’ (code), etc. (see Figure 1). In MT, a name and address are represented by four lines each of 35 characters, either in an unstructured format or with a structure that distinguishes only name, country code, city and other details.
 

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Due to the coexistence period of both formats, ISO 20022 and MT, in cross-border payments, current practices will be accommodated. Until November 2025, ISO 20022 usage guidelines will allow both, structured and unstructured address, to be used in a mutually exclusive way, i.e., either unstructured address in the ‘Address Line’ element or structured address in the dedicated components can be used (see Figure 2).

Due to the coexistence period of both formats, ISO 20022 and MT, in cross-border payments, current practices will be accommodated. Until November 2025, ISO 20022 usage guidelines will allow both, structured and unstructured address, to be used in a mutually exclusive way, i.e., either unstructured address in the ‘Address Line’ element or structured address in the dedicated components can be used (see Figure 2).

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* While ISO 20022 migration primarily relates to the interbank messages and therefore payment service providers, payment service users will be impacted as well. As party addresses exchanged in the interbank space are provided at the point of the payment initiation, corporates worldwide must prepare for the upcoming changes. Given that as of November 2025 payments must be initiated using fully structured ISO 20022 party addresses, this may represent a challenge for the corporates that maintain address data elements of their customers and vendors in an unstructured database (see Figure 3).



1. Are you aware of the migration of cross-border payments to the ISO 20022 standard?

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* 2. Do you maintain the database of your counterparties, suppliers and customers in a granular structure, allowing the provision of the ISO 20022 structured address format in payments as illustrated in Figure 1?

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* 3. Common Global Implementation - Market Practice (CGI-MP) defined pain.001.001.09 based on the ISO 20022 2019 version to ensure full interoperability with the ISO 20022 interbank messages. Which format will you use to initiate cross-border payments effective November 2025?

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* 4. Do you use an external provider to source or validate address data for customers, suppliers, or counterparties?

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* 5. Have you set up an internal project to prepare for November 2025 deadline, i.e. providing fully structured ISO 20022 party addresses when initiating a cross-border payment?

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* 6. Will you be able to initiate cross-border payments with fully structured ISO 20022 party addresses as of November 2025 (or earlier)?

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* 7. What do you see as the main challenges with regards to the requirement to provide structured party addresses by November 2025?

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* 8. Which of the following approaches do you envisage to follow as of November 2025?

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* Responder Legal Entity type (e.g. Corporate)

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* Responder Legal Entity Size (number of employees)

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* Responder Details

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