Question

New Payment Format iso20022 pain.001.001.009

B
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Hi 

We just received the message from a customer that certain Payment Institutes dont accept payment files with the Pain.001.001.003 anymore. will there be a new format available soon for Pain.001.001.009.?

I know that Camt054 version 4 was released with update 15 app10 

10 replies

A
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Hello IFS,

we have also received requests from some banks to prepaire ourselfs to switch to Pain.001.001.009 format.

What are the plans for introducing support of the format?

MishaelAkleker
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Hello IFS, 

 

We currently have a customer who’s bank will be updating their system to require Pain.001.001.009 from November 2023, Is there an update for introducing this within IFS? 

 

Thank you, 

 

Mish

Mish
T
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Hi, 

Thinking it may be best to log a call center case. This could be another set of people who may see the inquiry.  FYI, I sent the link to a coworker, unfortunately due to the vacation season, my contact is out of the office. 

Best regards, 

Thomas

Eranda
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@Thomas Peterson

Most of the banks now advise Corporates to migrate to the latest Common Global Implementation (CGI) ISO 20022 version (pain.001.001.09 or V9) in order to benefit from a harmonized cross-border payment experience and the latest value-add services. Although this version is based on the ISO20022 2019-2023 release, the bank adoption is very new and some banks like Citi are going to support this version from 2023 onwards. Since IFS also follows the Common Global Implementation (CGI) releases, it is good to introduce pain.001.001.09 as a new XML transformer in IFS Core solution. However, pain.001.001.03 version should be continued until all the banks and clearing channels are completely moved to V9.

There are not a lot of differences between V3 and V9 versions from IFS perspective other than some points highlighted below.

  1. Introduced additional attributes for postal addresses presentation
  2. UETR - Unique End-to-end Transaction Reference (SWIFT gpi) to track the payment (added to PMTINF level)
  3. LEI: Legal Entity Identifier to identify the payment initiating party (Initiating Party/Identification) 

In addition to the above some XML tag names have been changed. 

E.g. BIC ---> BICFI,

BICOrBEI --→ AnyBIC

I am looping @Chirantha who is managing the functional development of this area from IFS R&D side.

Kind Regards, Eranda
Chirantha
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Hi,

Thank you Eranda for keeping me in the loop. As suggested by Thomas P., the best approach is to create a new legal request to R&D Finance in order to provide you a solution before the due date.

@agfsavovpla and @mishaelakleker would it be possible to send us a legal request having disucssed this with the relevent country represnettaive in your region.

Pleas do contact me if you need more details over the process of creating a new legal request.

Thank you.

Best Regards,

Chirantha.

 

 

Chirantha
Ralph Gericke
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Hi,

there was also a discussion in this post:
SEPA ISO20022 XML Transformer for Germany as of 2023 NOV | IFS Community
As per my understanding the “old” Format will be obsolete in 2025.

Regards
Ralph
 

FLESTEFAN
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Hello @Chirantha,

is there any information on a possible solution for this legal requirement and will it be available for App9 customers as well?

Thanks and best regards,
  Stefan
 

Stefan Neudorfer
ashenfdo
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@Chirantha  is there any update on this? Will this be available for IFS 9 customers?

W
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@Chirantha  is there any update on this? I have a customer in IFS Cloud 23R1, their bank also informed them about moving to iso20022 pain.001.001.009. This version is critical as it can handle foreign payment for Germany (to replace DTAZV format).

Chirantha
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Hi All,

Apologies for the delay in getting back to you.

I'd like to update you that our R&D team is currently completing the investigation and will proceed with development as the next phase.

I want to clarify that this development won't be applicable for Apps 9 since R&D has ended support for Apps 9.

Regarding the cloud track for which this update will be accessible, I am not in a position to decide.

For further information on this matter, please reach out to Lena Borggren at lena.borggren@ifs.com.

 

Best Regards,
Chirantha.

 

Chirantha

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