Albania, part of the network of countries implementing ISO 20022 - New international standard, steps towards the modernization of the financial system
The Bank of Albania has taken an important step towards modernizing the financial system, becoming part of the list of financial institutions worldwide that implement the new ISO 20022 payments standard. This modern international standard aims to improve data exchange in payment transactions, increasing security, transparency and efficiency in the banking sector.
The Bank of Albania announces that as of March 10, our country is officially part of the network of countries implementing ISO 20022 for cross-border transactions and financial reporting (Cross-Border and Reporting Plus - CBPR+). This places Albania among the first in the region to implement this standard, even in record time ahead of the official global deadline, set in November 2025.
BoS is the first financial institution in the country and the region to be fully prepared to process international payments according to this standard. This fact places it among the 33% of financial institutions in the world that have already adopted ISO 20022, according to data published by SWIFT.com.
Albania's inclusion in this standard is part of a broader process of modernization of the payments infrastructure and alignment with global best practices in the financial sector.
ISO 20022 offers significant improvements in the quality and processing of financial data, increasing the efficiency and security of transactions.
This development is an important step for Albania's broader inclusion in international financial markets and to strengthen the credibility of domestic institutions in the global payments system.
This success confirms the Bank of Albania's commitment to pursuing and implementing technological and regulatory innovations that ensure a safer, faster and more standardized financial system for all users.
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