🏦 BOC Leads Sri Lanka's Payments Modernisation with SWIFT MX Adoption

• Bank of Ceylon (BOC) is the first local bank in Sri Lanka to implement the SWIFT MX (ISO 20022) messaging standard within its treasury system. • This marks the replacement of the older MT format with the structured, data-rich ISO 20022, aligning the institution with global best practices for payment data exchange. • BOC successfully migrated and went live on October 27, 2025, notably operating the new format without using message converters. • Global Mandate: ISO 20022 is the new universal format for high-value payments, with worldwide migration expected by November 2025 to maintain compatibility with international partners. • The move ensures BOC is prepared for the global shift, enhancing transparency, automation, and data accuracy for cross-border transactions and setting a benchmark for the local banking sector. 🚀