On September 22, 2025, Moldindconbank became the first bank in the Republic of Moldova to successfully implement the new standards for international payments – SWIFT ISO 20022. Just two weeks later, on October 6, the bank, together with other financial institutions in the country, took another step toward European integration by officially launching the processing of EUR payments through the Single Euro Payments Area (SEPA). Both strategically important projects were implemented with the technical support of CS, a leading Ukrainian developer of software solutions for banks and financial organizations.
A New Challenge for Moldovan Banks
SWIFT ISO 20022
A year and a half ago, the global banking community anticipated a major shift – the transition to the new SWIFT ISO 20022 standard. For banks, this meant not only updating core banking systems (CBS) but also revising external integrations and internal business processes.
Moldindconbank was also preparing for these changes; however, during the process, the project grew in scope:
- Eight months before the launch, Moldova’s upcoming accession to SEPA was announced.
- SWIFT decided to extend the use of some MT payment messages until 2026, consuquently, addtional CBS development was needed.
- The approved implementation timeline was earlier than the standard dead-line set by SWIFT –the launch took place two months before this deadline.
Despite the significantly increased workload and limited resources, the Moldindconbank and CS teams decided not to postpone the project and brought ISO 20022 international payments into production as early as September 2025, with strong commitment from project team, on further continuing the delivery of remaining functionalities to finalize the enhancement of foreign payments processes in the bank.
SEPA
Joining SEPA marks a significant step forward for Moldindconbank, enabling faster and more cost-efficient payments for its customers. In just the first days of operation, the number of SEPA transactions was around 40% of all foreign currency transfers processed by the bank.
The Solution
As part of these projects, the following developments were implemented:
- In the CBS B2, the necessary directories, controls, APIs, and interfaces were developed to support and visualize payment documents according to the new SWIFT MX standards.
- In the iFOBS web application fo legal entities clients, a separate functionality was added for initiating international payments in the new SWIFT MX format and a new payment type –SEPA – was introduced.
- To enhance user experience, iFOBS now supports payment templates, updated partners and payment purpose directories, print forms, file imports, and the ability to attach confirmative documents (DocUpload) to payment orders.
- In the iFOBS mobile application fo legal entities clients, users can now view and co-sign payment orders initiated from the web version.
Both projects were developed and deployed almost synchronously.
Project Outcomes
The implementation of the new standards aim to improve the bank’s operations, including:
- Optimization of money anti-laundering processes associated with international tranzactions;
- Complete the migration of corporate clients to the iFOBS system which is compliant to ISO 20022 standard;
- Enhance efficiency and transparency of operational workflows.
Ana Condrea, Head of Customer transactions and service processing Department
On behalf of our entire team, I would like to thank our colleagues from CS for support and commitement throughout each stage of these projects. We appreciate your involvement, your timely support, and readiness to assist even beyond working hours. The way our teams worked together made a clear difference in reaching this important milestone, and we count on continuing the implmenetation of remaining functionalities to improving foreign payment processes and delivering a better experience for the bank’s customers. Thanks to the joint effort and the experience built throughout these two projects, we’ve laid a solid foundation for collaboration – one we aim to strengthem further as we move into the next stages together
