Mongolian Swift User Group Meeting 2023 has successfully been organized at the Bank of Mongolia

The SWIFT User Group Meeting 2023 is being organized at the Bank of Mongolia where representatives of Mongolian commercial banks and fintech organizations are participating.  The meeting was held electronically for the last several years due to the pandemic and international geopolitical tensions.

As the international banking and financial sector is rapidly transitioning to the new ISO20022 messaging standard, the Swift messaging is scheduled to be fully migrated to the standard by November 2025.

The 2023 annual Swift SIBOS meeting of international Swift network users was held in Canada. The "Essential" service, which combines several new services offered by Swift, such as "Payment control", "GPI", and "Go", presented during SIBOS, was presented in detail to users in Mongolia.

During the UGM SWIFT has expressed its support for the Bank of Mongolia's interest to jointly participate as group of representatives of the banking sector of Mongolia in the 2024 SWIFT SIBOS meeting, which will be held in Beijing, China.