Oracle Financial Services announced that Oracle Banking Payments has achieved SWIFT Compatible Application status. This validation allows banks to meet Swift standards for payment security, interoperability, and regulatory compliance. Additionally, the solution offers modern, AI-enabled payment messaging processing.

Built natively on the ISO 20022 framework, Oracle Banking Payments supports multiple payment types. The subscription-based platform continuously updates to reflect scheme rulebooks and guidelines, providing customers with a secure, compliant, and compatible digital payments solution.

Preparing for ISO 20022 Migration

As the global migration from legacy MT formats to ISO 20022 MX message formats approaches in November 2025, Oracle Banking Payments enables institutions to transition seamlessly. The platform coexists with legacy formats while offering enhanced transparency, advanced analytics, and streamlined compliance and anti-fraud processes.

“As the coexistence window for legacy MT formats closes, banks that haven’t modernized face growing operational and customer risks,” said Sonny Singh, EVP and GM of Oracle Financial Services. “Swift validation demonstrates Oracle’s commitment to delivering secure, standards-based solutions. Our platform helps banks adopt ISO 20022, strengthen compliance, and unlock real-time, data-driven payment capabilities.”

Oracle’s Swift-validated solution not only ensures regulatory compliance but also supports real-time payments and improved customer experiences. Banks benefit from richer data, precise reconciliations, faster straight-through processing, and reduced errors. Moreover, the platform enables new digital banking innovations, empowering financial institutions to leverage data effectively for modern payment solutions.

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News Source: Prnewswire.com