KienlongBank successfully implemented the international messaging standard ISO20022

Aiming to become the leading digital bank in Vietnam, KienlongBank has continuously promoted investment, optimized technology infrastructure and developed many modern products and services.

After the milestone of successfully converting the Core Banking system in 2023, KienlongBank continues to make an important mark when it officially and successfully deploys the automatic processing of outgoing and incoming payment transactions according to the international messaging standard ISO20022 of the SWIFT Organization.

ISO20022 is considered the “common language” of the financial industry, allowing for the attachment of more detailed information about transactions, helping to increase transparency, improve the effectiveness of anti-money laundering and better comply with legal regulations. The new standard also helps banks process transactions faster, more accurately, minimize errors, and provide detailed, multi-dimensional reporting data.

With the successful implementation before the deadline prescribed by the State Bank (September 2025) and SWIFT (November 2025), KienlongBank has become one of the joint stock commercial banks in Vietnam to complete the transformation. Not only meeting the mandatory transformation roadmap, with the spirit of core technology autonomy, KienlongBank has researched, built and successfully deployed the SWIFT MX message processing solution according to ISO20022 standards.

With MX, payment messages are created directly from the Bank's Core Banking system without using SWIFT's message conversion feature while still ensuring full compatibility with the international financial system. Initiating messages directly from Core Banking helps KienlongBank ensure data synchronization, shorten processing time and minimize the risk of errors during format conversion.

In addition, because transactions will be accompanied by more detailed information fields, it will help increase transparency and traceability, thereby strongly supporting risk management, anti-money laundering and legal compliance.

This is also the platform for the Bank to proactively customize and expand features according to practical needs, instead of being limited by available standardized tools. Thanks to that, KienlongBank not only optimizes operating costs but also improves speed, accuracy and flexible response, creating a clear competitive advantage over many other banks in the market.

Currently, the rate of messages reaching the level of being transferred and received entirely by MX solution as a payment initiator in Vietnam is still limited, only about 28.9% as of June 2025. This achievement not only makes KienlongBank one of the ten pioneering banks in Vietnam to transfer and receive entirely by MX, but also helps the Bank build a competitive advantage and reputation in global financial integration.

The year 2025 is the time to move to a new stage and at the same time celebrate the 30th birthday (1995 - 2025) of KienlongBank. With the milestone of successfully implementing the international telegraphic standard ISO20022, KienlongBank continues to affirm its technological capacity, self-reliance and strong orientation towards international integration.

This is not only an important step in the modernization journey, but also a foundation for the bank to realize its strategy for the 2025 - 2030 period: from "doing digital" to "doing smart", from "digitalizing experiences" to "personalizing experiences", while at the same time integrating social responsibility into every business decision.

Source: https://baodautu.vn/kienlongbank-trien-khai-thanh-cong-chuan-tin-dien-quoc-te-iso20022-d373004.html