As a payment solutions provider, CGI often must explain how we handle the migration from MT messages to ISO 200022 MX messages in high-value and cross-border payment markets. The simplest answer is that we migrate the heritage payment system to a hypernew solution that is ISO-native, cloud-proven, and designed to meet next-generation challenges. However, CGI has been providing wire payment solutions around the world for the last 40 years. Some of the earliest legacy solutions are still in production, deeply embedded into complex ecosystems, and critical to moving billions of dollars on a daily basis.
These heritage solutions, such as CGI BESS, have run diligently since electronic messages first emerged and are technically capable of continuing to do so for many years. With the global migration to ISO 20022, we now face a significant challenge. Changes hindered for many years are suddenly happening with tight deadlines and strong business mandates. In short, the high-value and cross-border markets demarked by SWIFT and central banks are going through seismic shifts that will affect your mainframe at its core.