AxleConnect, Symmetree
Swift gpi Services
Completed
“Old National Bank successfully migrated critical Swift operations and achieved ISO 20022 readiness while bolstering client workflows.”
Founded in 1834, Old National Bank is a premier regional lender with a dominant footprint across the Midwest and Southeast. As a top 25 U.S. banking institution with over $70 billion in assets, the bank specializes in tailored commercial and consumer banking, wealth management, and comprehensive mortgage services.
As Old National’s corporate client base expanded, international transaction volumes increased alongside expectations from clients for speed, transparency, and reliability. This growth exposed a reality many established banks now face: international demand for ONB’s high quality services was accelerating faster than the infrastructure supporting it.
As Old National Bank set its sights on expanding its international business, it needed a trusted partner to support growth efficiently while navigating increasingly complex global banking standards. The bank partnered with Axletree, a global any-to-any financial connectivity and enterprise integration provider, to address three critical challenges:
What had once been manageable inefficiencies were turning into immediate operational and financial risk.
The bank partnered with Axletree, a global any-to-any financial connectivity and enterprise integration provider, to address these critical challenges.
Initially, Old National Bank planned a straightforward migration of both BICs from its existing provider to a new solution. While early progress was encouraging, as the project advanced, a combination of technical, operational, and regulatory hurdles surfaced:
Old National Bank evaluated its options:
Old National chose to partner with Axletree, not simply to meet the ISO 20022 mandate, but also to establish a scalable foundation for international growth.
Axletree implemented Symmetree by Axletree® as a centralized integration layer designed to sit between Old National Bank’s existing systems and global messaging networks.
The implementation delivered the following benefits for the bank, with a focus on risk reduction, business continuity, and speed of execution:
Rather than forcing a wholesale system replacement, Axletree enabled Old National Bank to modernize both incrementally and decisively.
“Our relationship with Axletree provides ONB with the flexibility it needs to meet the client’s onboarding needs, especially when an expedited implementation is required,”
– Leslie Parnell,
Senior Director, TM Client Experience
By the time of the ISO 20022 deadline in November 2025, Old National Bank was fully prepared.
Furthermore, the bank emerged with:
What began as a compliance-driven initiative ultimately improved both efficiency and revenue potential.
“Our partnership with Axletree has improved both Old National’s efficiency and revenue potential, without disrupting daily client workflows,” said Jason Berkowitz, Old National Chief Technology Officer. “We’ve seen reduced friction in international payment processing, faster onboarding for our large corporate clients, higher transaction volumes, and improved operational efficiency through increased automation and validation.”
“Whether clients are currently using our Swift services or exploring international payment solutions, our team is ready to discuss how the recent ISO 20022 changes might impact your operations,” said Joe Wicklander, Old National Treasury Management & Merchant Services President. “With this partnership we’ve significantly enhanced our Treasury Management offerings while strengthening our competitive position with corporate clients looking to leverage their investment in ERP systems.”
— ONB Team Members
Old National Bank’s experience reflects a challenge many mid-to-large banks now face—regulatory deadlines do not pause for internal transformation timelines.
By choosing a partner that could operate within existing constraints while preparing for what was next, Old National Bank significantly enhanced its treasury management offering and brought it to market faster than would have been possible internally.
Leveraging Axletree’s expertise enabled the bank to meet regulatory demands while simultaneously unlocking new revenue opportunities and strengthening its competitive position in international banking.
“Old National Bank exemplifies the kind of collaborative partnerships Axletree builds every day. By working closely together, we helped Old National Bank expand its Treasury Management capabilities, meet regulatory milestones, and drive meaningful profitability.”
– Jeff Ferguson
Axletree’s Managing Director of Sales
and Client Relationship
