Regulatory Alerts2023-01-01
ZIPSS and ISO 20022 Migration Plan of Activities
The Bank of Zambia has initiated a community testing phase for its ZIPSS platform to facilitate the migration to ISO 20022 payment standards. Participants are required to generate and process ISO-compliant messages via SWIFT Alliance or Gateway from their Core Banking Systems, covering administrative functions, routing, settlement, billing, reporting, net settlement processing, and liquidity transfers. A minimum 95% test completion rate is mandatory to advance to the next migration phase, with all results documented in structured scripts and validated through weekly stand-up meetings.
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