Converting MX2MT – ISO20022 to MT SWIFT messages
A popular way to reduce costs for implementing ISO20022 within a core banking system is to use i-Con to do the conversions from ISO20022 to MT SWIFT messages.
A Bank receives ISO20022 messages from the SWIFT network. The i-Con platform takes these messages and places them into a queue which it the processes by:
- Grouping messages together with a one-to-many relationship
- Decompress content (if necessary)
- Convert ISO20022 message to an MT101 message
Using the above approach, banking institutions do not need to re-design to add new features to their core banking system.
i-Con is used to translate the ISO20022 to MT SWIFT.