The financial world is undergoing major shifts—and for corporates, these changes are becoming impossible to ignore. Key market infrastructures across the globe are embracing ISO 20022 to achieve richer data, better cross-border interoperability, and streamlined regulatory compliance. While many corporates believe ISO 20022 applies primarily to banks, the truth is that this change will soon affect corporate stakeholders processing financial messages as well.
If you’re a corporate treasurer or finance professional, this is your cue to prepare for the inevitable—and reap the benefits of more efficient, transparent financial operations. Read on to discover how the ISO 20022 migration will impact corporates, what other challenges lie ahead, and how Axletree can help you seamlessly transition with the right strategy and technology.
The Corporate Timeline: Understanding the ISO 20022 Migration
When it comes to ISO 20022 for corporates, confusion abounds. Many treasury teams see Swift’s November 2025 deadline—when the coexistence period for legacy MT messages in cross-border bank-to-bank payments ends—and assume it immediately affects their corporate-to-bank connections.
However, as explained by Mike Lewis, one of Axletree’s Directors of Sales, “Messaging under SCORE, [or the Standardised Corporate Environment]… is exempt from the initial phase of the migration. This means that the November 2025 coexistence period end date only applies to bank-to-bank communication.”
However, complacency is risky. “The real question of the day for corporates is, when do I move?” asks Lewis. He predicts that banks themselves will “encourage or even require” corporates to adopt ISO 20022 when they’re ready. Some banks will move faster than others, leaving corporates juggling timelines across different banking partners. The best approach is to be proactive: organizations should begin planning their ISO 20022 migration now to avoid being caught off guard when their banks push them to transition.
Coordinating Timelines and Managing Multiple Banks
What makes the ISO 20022 migration so complicated? “”Some of these multinational corporates are doing business with five, ten, or even 200 banks,” Lewis points out. “You don’t want to repeat the process over and over, to the point where migrating to ISO becomes your 24/7 job.”
For many corporates, the ISO 20022 migration is challenging precisely because of multiple banking relationships. Banks are required to move to ISO 20022 by the end of the period for bank-to-bank messaging, but this deadline does not apply to corporate-to-bank messaging. Corporates might see a scenario in which Bank A fully switches to ISO 20022 for corporate-to-bank messaging by the November 2025 deadline, while Bank B continues to operate on legacy MT messages for their corporate-to-bank messaging for months thereafter.
This kind of fragmentation creates inefficiencies and administrative burdens that distract organizations from mission-critical activities—and this delay will only increase as deadlines approach. According to Lewis, most corporates “want to move to ISO in an organized, manageable fashion, not in piecemeal format.” Jeff Ferguson, Managing Director of Sales & Client Relationships at Axletree, echoes the importance of beginning the ISO 20022 migration process early: “There are advantages for people starting a little earlier, rather than waiting until it’s late and facing a crunch.”
Beyond Payments: The End of IPLA and SIL
While ISO 20022 for corporates is the significant update that finance professionals have their eyes on, another major change looms on the horizon: Swift’s discontinuation of IPLA (Alliance Access Integration Platform) and SIL (Swift Integration Layer). Both IPLA and SIL are used in the development of custom code that supports bespoke features and functionality that lie outside of the standard SAA scope, to help meet the needs of different Swift member organizations. After June 30, 2026, however, organizations still relying on these tools need to prepare for significant changes, including rewriting any custom functionalities.
“Swift will provide the customers with the code. But it can’t be recompiled and reused. The code has to be recreated from the ground up,” Lewis explains. This creates yet another transition challenge for treasury departments already managing multiple priorities. For many organizations, rewriting all custom integration code from scratch not only stretches internal resources, but also highlights the critical need for careful integration planning and specialized support to maintain smooth operational continuity.
While this shift may seem daunting, it also presents an opportunity to simultaneously streamline internal processes. Integration solutions like Axletree’s enterprise integration platform, Symmetree, can handle important industry shifts such as the ISO 20022 migration and the IPLA & SIL discontinuation with modernized solutions—so corporates don’t need to scramble at the last minute to maintain their critical financial messaging.
Seizing the Opportunity for Efficiency and Growth
Modernizing your messaging isn’t just a compliance exercise—it’s also a chance to optimize your operations. ISO 20022’s structured data format can significantly improve straight-through processing (STP) and reduce manual intervention. Payment networks such as Swift and the US Fedwire system are converging on ISO 20022, creating a universal standard that streamlines cross-border transactions and bolsters regulatory reporting.
Symmetree by Axletree provides a streamlined migration path for ISO 20022 for corporates. It also supports custom integration configurations to replace IPLA and SIL, taking the complexity out of rewriting custom code from scratch. By offering any-to-any format translation and an intuitive integration framework, Symmetree ensures a smoother transition from legacy MT messages and IPLA/SIL functionalities to ISO 20022-compliant workflows. It also reduces operational disruption by centralizing and integrating core messaging processes, allowing treasury teams to maintain business continuity.
“Axletree comes in and is prepared to assist corporates in the planning, preparation, and formatting of their messages to make [any kind of] move—such as MT101 to pain.001, or MT940 to CAMT,” Lewis explains. “November 2025 is not that far away. Planning and having initial discussions now to start the conversion is very important. You don’t want to be the last one making a decision to move to migration, because by then everybody’s going to be in line.”
Corporates that act early can coordinate with their banks, unify connectivity, and integrate new messaging standards with minimal disruption. Late adopters risk last-minute crunches, costly transitional fees, and even potential service interruptions. Ferguson notes that with the right partner, the process becomes far more manageable: “Axletree can prepare you for the future by modifying your existing systems to create ISO-ready formatted messages through Symmetree. We shoulder the burden of all connectivity and translations to give clients total peace of mind.”
Positioning Organizations for Success
As these industry deadlines approach, corporates face a choice: reacting late in crisis mode or proactively preparing with a strategic plan. The migration to ISO 20022 for corporates represents not just a compliance requirement but an opportunity to enhance treasury operations with richer data and improved processing.
The good news? Organizations don’t have to navigate these waters alone. Mike Lewis and Jeff Ferguson, alongside the entire Axletree team, stand ready to guide organizations seeking to take the next step forward in their financial messaging infrastructure. By leveraging platforms like Symmetree—and beginning the ISO 20022 migration early—organizations can sidestep panicked timelines, minimize costs, and harness the benefits of more efficient financial messaging.
Additionally, Axletree’s expert support team offers the clarity and confidence corporates need when navigating complex IPLA/SIL or ISO 20022 migrations. Leveraging years of domain expertise and a consultative approach, our specialists help streamline workflows and minimize disruptions every step of the way. Organizations ready to discuss a transition strategy or simply wanting to learn more about how ISO 20022 will affect their organization are invited to reach out to Axletree for a discovery call.
The next generation of financial messaging is here—and it is critical to make sure your organization is positioned to thrive in it. Reach out to Axletree’s expert team today discover how Symmetree can elevate your business with seamless integration and advanced financial messaging solutions.
March 18, 2025
