Implementation plan

Below you will find an overview of the timeframe and most important stages of the migration project.

Gradual, consistent implementation

As the market leader in Swiss payment transactions, PostFinance is a driving force behind the switch to ISO 20022 standards and is implementing them consistently.

PostFinance was the first financial institution in Switzerland to offer products for the new credit transfer scheme in accordance with ISO 20022. We will now gradually implement additional functions. The introduction of the new inpayment slip will be the last stage in the process, as the new messages for credit transfers and notifications are a prerequisite for this.

Timetable for migration at PostFinance

The following graphs show bank and customer migration and the many factors upon which they are dependant.

There will be a parallel phase of two years for the migration of inter-bank payment transactions. Both old and new messages can be used from 2016 to 2017.
There is a parallel phase of two years for the transfers, notifications and debits migration projects. Both old and new messages can be used from 2016 to 2017. The inpayment slip will be replaced by a QR code. The relevant schedule is currently being drawn up and is expected to be announced in April 2017.

Modifications to services which are used less frequently

PostFinance is using the migration of payment transactions to avoid transferring formats and product variants which are no longer up-to-date, into the new standard. Affected customers will be informed by PostFinance about the relevant modifications ahead of time.