ECCB Hosts Swift Training on ISO 20022 Readiness
The Eastern Caribbean Central Bank (ECCB) hosted a Swift ISO 20022 and CBPR+ training for commercial banks operating in the Eastern Caribbean Currency Union at its Headquarters in Saint Christopher (St Kitts) and Nevis over the period 20 – 21 October.
The training, conducted by Swift, focused on preparing institutions to meet Swift’s November 2025 deadline for all institutions to move to the ISO 20022 standard for core payment messages.
Participants gained a clearer understanding of the structure, message flow, and use of the key ISO 20022 payment message standards that Swift is rolling out to enhance the payments infrastructure.
The ISO 20022 format offers significant benefits over legacy Message Types; including richer, structured data, that improves operational efficiency and fraud detection. It provides increased transparency in payments, leading to faster processing times, more accurate compliance, and better customer service.
The training presented another opportunity for the commercial banks to better prepare for this critical transition to ISO 20022 and to learn from the experiences of others.
Participants agreed that the training was relevant and timely.
