Previous:   CBPR+ Migration Scope: MT to MX Message Categories and Structured Data

The key structured/ enhanced data elements in ISO 20022 SWIFT MX Messages

As we discussed in our earlier post, implementation of structured data elements is a vital pillar in the MT to MX CBPR+ migration.

When it comes to structured, rich or enhanced data in MX messages the following are the key elements -

1. Hybrid Postal Address
2. Structured Remittance Information
3. Regulatory Reporting
4. Purpose Code
5. Category Purpose Code
6. Legal Entity Identifier (LEI)
7. On-behalf-of elements like Ultimate Debtor and Ultimate Creditor

The PMPG has announced that ‘With TM (Transaction Manager) safeguarding the end-to-end data integrity, customers can now leverage the full potential of ISO 20022 and start sending ‘enhanced’ data.’

The structured data elements are encouraged to be used in most market infrastructures across the world, whereas CHAPS have gone one step further and mandated the use of purpose codes, LEI and structured remittance and declared deadlines of implementation.

Of these the Hybrid Postal Address is the most urgent of all because from November 2026 it will become the go-to format for postal address and unstructured postal address will be removed altogether.

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Next:    SWIFT MX Message Postal Address Formats: Structured, Unstructured, and Hybrid