ISO 20022 Migration Changes in Payments and Account Statements

This technical report outlines the changes associated with the ISO 20022 migration for payments and account statements as implemented by Deutsche Bank. It details the transition from legacy formats to the standardized ISO 20022 format, emphasizing the importance of structured information and the new XML message versions. The document specifies the timeline for migration, highlighting key deadlines such as the mandatory shift from legacy formats to ISO 20022 by November 2026. It also discusses the implications for SEPA transactions, including the introduction of new pain message versions and the requirement for structured addresses. Furthermore, the report addresses the changes for international and urgent payments, including the mandatory migration to new pain versions and the necessity for regulatory information in structured formats. The document serves as a comprehensive guide for clients to prepare for these changes and ensure compliance with the new standards.