The National Bank of Georgia has completed its transition to SWIFT’s ISO 20022 payments messaging standard, aligning Georgian banking infrastructure with the new global format for international payment messages. The move is intended to improve the efficiency of cross-border transfers and support the Georgian banking system’s interoperability with international financial flows. Under ISO 20022, messages carry more structured and detailed data, which the National Bank of Georgia links to improved transaction analysis, automation, and stronger anti-financial crime controls including AML and KYC. The standardisation is also positioned to reduce errors and operational costs while accelerating payment processing; it provides a common messaging “language” to support smoother collaboration between Georgian banks and overseas counterparties. The central bank upgraded its own systems and coordinated the sector-wide migration, supporting commercial banks in implementing the required changes.
National Bank of Georgia 2025-11-25
National Bank of Georgia completes SWIFT ISO 20022 migration across the Georgian banking sector
The National Bank of Georgia has adopted SWIFT’s ISO 20022 payments messaging standard, enhancing Georgian banking's efficiency and interoperability with international systems. This aims to improve transaction analysis, automation, and anti-financial crime controls, while reducing errors and costs. The central bank coordinated the migration, supporting commercial banks in implementing the changes.