ISO 20022 payments messaging adoption rate increases

Majority of central banks uphold plans to transition by 2025

Central banks appear to be making marginal improvements in embracing the ISO 20022 messaging protocol, data from the Payments Benchmarks 2023 suggests.

In the preceding benchmarks, less than 10% of respondents (just three institutions) said they had upgraded their real-time gross settlement (RTGS) infrastructure to ISO 20022. Although the dataset this year varies from the past year’s, seven institutions, or 25% of respondents say they are now compliant.

Central banks that are yet to upgrade to

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