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Implementation of the ISO 20022 Standard

In accordance with the NBU’s strategy as of 2025, the SEP development road map, and considering Ukraine's status as an EU candidate, the National Bank of Ukraine is in the process of converting the Ukrainian payment infrastructure to ISO 20022.

The National Bank of Ukraine has developed and is preparing to implement a new generation of the NBU System of Electronic Payments (SEP-4.0), based on ISO 20022.

As of 1 April 2023, all interbank payments will only be transacted in the new generation of SEP-4.0.

The transition to the new generation of SEP will launch a formalized model for providing financial services in Ukraine, which is the EU standard. This will improve financial message exchange quality and expediency on account of the message structure.

The implementation of new tools and capabilities will expand functions of SEP and bring its operation in line with the EU rules, including:

  • launching an instant payments service for real-time settlements of clients in Ukraine in the next SEP versions
  • laying the groundwork for continuing future crossborder transfers in euros with the EU states based on SEPA Instant Credit Transfer.

The settings of the new generation of SEP is currently being tested by all participants of the payment infrastructure. The SEP participants can test the interaction of their automated banking systems with the new generation SEP testbed at any suitable time.

On this page, you can review the documents regarding the ISO 20022 standard implementation in Ukraine, as well as the SEP development road map.

If you have any questions regarding methodology of ISO 20022 and the new SEP generation, email the team at: iso20022@bank.gov.ua.

Regarding technological interaction with the new generation SEP testbed (bench), email at: sep@bank.gov.ua.

Documents ISO20022

Implementation of the ISO 20022 Standard

Date

     Review ISO 20022

23.09.2022

Other documents are available only in Ukrainian. Please change the language to edit it.