What is ISO 20022?
ISO 20022 is the new international standard for electronic data exchange in the financial sector. It replaces previous formats such as MT940 and will be mandatory from November 2025.
What will change when importing bank transactions?
If you previously imported transaction files, the file formats may change:
MT940: This format is being phased out (only supported until November 2025)
camt.053: Replaces the MT940, new ISO 20022 format (recommended)
CSV: Alternative for unsupported banks
Important steps:
Ask your bank:
When will the changeover to camt.053 take place?
Is the new format already available?
Test in Scopevisio:
Test the import with camt.053 files by importing the account transactions of your account in this format.
Make sure that the fields required for you are transferred correctly
Note: There is also a version jump in the camt.053 format. The preferred version under ISO 20022 is camt.53.08. This format will be fully supported by Scopevisio from November at the latest, prior processing should be possible (-> Test).
Known deviations:
camt.053 does not necessarily have the account statement number (processed in Scopevisio as external document number) like MT940.
With the latest camt version, the business transaction code (GVC) is replaced by the three hierarchically structured business term codes (BTC). Previously functioning bank statement rules based on the GVC will then not be triggered, as the value may no longer be transmitted by the bank.
Important settings:
None. The process with camt files is identical to that of MT940 files.
Possibly later adjustment of the account statement rules. Follow the release notes for corresponding updates. If your bank also supplies the data in camt.053, we will display it and trigger corresponding rule events.
If you have previously imported your transactions via our finAPI connection, there is no acute need for action.
What will change in the execution of payment runs?
There are no mandatory changes to the structure either when making payments via finAPI or when generating XML files that you transmit manually.
Adaptation of settings
However, Scopevisio AG is providing a new SEPA version (3.7). Therefore, check whether the default setting in the Organisation > Master data > Payment transaction settings area is set to Current version - the adjustment will then take place automatically.This value then cascades via the house banks into the payment run. If your house bank shows Use system preallocation in the settings for the payment procedure in the house bank administration, you do not need to intervene here either.
Verification of the payee (recipient verification)
At the same time, a new EU directive comes into force(Verification Of Payee), which aims to make fraud more difficult. A number/name comparison is carried out by the recipient bank. This was previously only usual for large payment amounts. If necessary, check the account holder field in the personal account area and enter the full name.
Example: Instead of "Muster Markt", enter the full name according to the invoice "Muster-Markt GmbH & Co. KG".
If you have previously created your supplier contacts using Creditreform suggestions, you should find few deviations.
Transfer with finAPI
When initiating a transfer, the VoP takes place in the finAPI web form:
Non-matching names can still be released:
Receiving payments with VoP
You are trading under "Gartenbau Günther Gras", but your company account is in your name "Herbert G. Gras", then problems may arise. If you have significant discrepancies between the account holder and the company name, you can enquire with your bank whether it offers so-called aliases to store several names so that payments to you are not rejected.