Sibos 2026: ISO 20022 Address Removal Postponed

A panel at Sibos 2026 in Miami brought together voices from Swift, Standard Chartered, the Federal Reserve Bank of New York and Deloitte to address a key question in the ISO 20022 migration. Their focus was the industry's decision to delay the removal of unstructured addresses, a move that keeps legacy payment formats in play for longer than some had expected.

The discussion highlighted the tension between near-term operational realities and the long-term vision behind ISO 20022. Unstructured addresses have long been a practical fixture in cross-border payments, even as the standard aims to make data richer, more structured and more interoperable. Dropping them on the original timetable proved difficult for institutions still managing legacy systems and clients.

One participant compared ISO 20022 to the Sagrada Familia, an unfinished landmark that has been under construction for generations. The image captured the standard's ambitious, evolving nature: progress is real, but completion remains a moving target. The panel suggested that patience and phased adoption are part of the journey.

Despite the postponement, the speakers did not frame the decision as a retreat from ISO 20022's objectives. Instead, they positioned it as a pragmatic step that allows the industry to align readiness, reduce disruption and keep moving toward richer payment data. The long-term direction remains intact, even if the path includes another delay.