Oracle Financial Services has announced a major milestone for its digital banking solutions, revealing that Oracle Banking Payments has been validated as a Swift Compatible Application. This recognition assures financial institutions that they can rely on Oracle’s platform to meet Swift standards for payment security, interoperability, and regulatory compliance all while benefiting from modern, AI-enabled payment messaging capabilities.
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Built natively on the ISO 20022 framework, Oracle Banking Payments is a subscription-based application designed to handle multiple payment types. It is continuously updated to align with scheme rulebooks and regulatory guidelines, providing customers with a secure, compliant, and future-ready digital payments processing platform.
With the global financial industry preparing for the full migration to ISO 20022 MX message formats, set to go live in November 2025, Oracle’s solution offers a seamless transition path. Banks can migrate to MX formats while still supporting legacy formats during the coexistence period. This approach not only ensures compliance with Swift deadlines but also enhances transparency, improves analytics, and streamlines compliance and anti-fraud processes.
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“As the coexistence window for legacy MT formats nears its end, banks that haven’t modernized face increasing operational and customer risks,” said Sonny Singh, executive vice president and general manager of Oracle Financial Services. “Continually delivering Swift-validated applications reflects Oracle’s deep commitment to providing secure, standards-based solutions that empower financial institutions to meet the demands of a fast-evolving payments ecosystem. With Oracle Banking Payments, banks can seamlessly transition to ISO 20022, strengthen compliance, and unlock the potential of data-driven, real-time payments for their customers.”
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The adoption of ISO 20022 is not just about regulatory compliance. It is a critical step toward enabling real-time payments, enriching customer experiences, and leveraging the power of data-driven banking. By providing access to richer data, improving reconciliation accuracy, enabling efficient straight-through processing, and powering new digital banking innovations, Oracle Banking Payments equips financial institutions to stay ahead in a rapidly evolving financial landscape.
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