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Smart ISO 20022 compliance

Effortlessly prepare for U.S. and global messaging standards for FedNow®, RTP®, Fedwire, and SWIFT.
OverviewBenefitsFeaturesFAQs
ISO 20022 solutions, ISO 20022 services, ISO 20022 compliance, ISO 20022 compliant

Futureproof your ISO 20022 transformation

Don't settle for quick fixes when preparing for ISO 20022. Our solution offers a single native platform for all your payment rails, covering both domestic and international networks. You'll easily integrate value-added services and gain rich data insights to drive innovation. With our ISO 20022 solution, you're fully prepared for tomorrow's financial landscape.

Benefits you can bank on

Effortless compliance

Forget the scramble to meet new regulations. Our cloud-native SaaS solutions ensure you are up to speed with the latest ISO 20022 requirements for domestic and international payments, ensuring stress-free and on-time compliance.

Flexibile transformation

Centralize all payment rails or modernize based on business priorities. Tailor your bank’s transformation plans at the speed your business demands. 

Accelerate readiness

Be ready to capture and leverage the expanded data fields of ISO 20022 for both back-office operations and digital experiences. 

Glean valuable insights

Our advanced analytics leverage ISO 20022 data, empowering you and your customers to gather insights and make data-driven decisions.

Seamless integrations

Our platform integrates seamlessly with your core banking system and ancillary tools like AML and OFAC, ensuring quick deployment and a smooth transition.

Fed-certified Fedwire solution

Embrace ISO 20022 standards with our certified Fedwire solution, with transformation approaches tailored to your specific needs.

MX-ready for SWIFT transactions

Seamlessly transition to ISO 20022 messaging standards for SWIFT with our MX-ready platform, ensuring compliance ahead of migration deadlines.

Instant payments on ISO 20022 standards

Ensure seamless and efficient processing of instant payments with our ISO 20022-native platform for FedNow and RTP.

Universal message translation

Easily preprocess messages from any format and convert them to the ISO 20022 messaging standard.

ISO 20022 compliance made easy

The world is moving forward—don’t get left behind. ISO 20022 messaging are becoming the global norm. Makeshift solutions to meet migration deadlines increase costs and fall short of customer expectations. Deliver value-added services and take full advantage of the ISO 20022 opportunity with our future-proof solution.

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Insights

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Webinar On Demand – Fedwire migration to ISO 20022: From compliance to competitive advantage

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Top 5 Critical Factors: Steering Banks Towards ISO 20022 Migration Success

FAQs

What is ISO 20022?

The ISO 20022 standard supports financial messaging and uses extensible markup language (XML) syntax. ISO 20022 messages use a common data dictionary, can carry a considerable amount of information, and can support payment messages from end to end, including the following:

- Payment initiation (corporate to bank)

- Interbank settlement (bank to bank)

- Cash management (bank to corporate)

Why is Fedwire moving to ISO 20022 message standards?

Adopting the ISO 20022 message standard should help the market infrastructure meet the increasing customer demands for richer data, help customers more easily comply with evolving regulatory requirements, improve the Fedwire Funds Service’s interoperability with other payment systems in the interconnected, global economy, and help customers enhance their client services.

What is the cutover day to move Fedwire messages to the new ISO 20022 format?

Federal Reserve Banks will adopt the ISO 20022 message format for the Fedwire Funds Service in a single-day implementation strategy on March 10, 2025.

What will happen to the existing FAIM format?

With the ISO 20022 implementation, the Federal Reserve Banks will sunset the existing proprietary Fedwire Application Interface Manual (FAIM) format and replace all FAIM messages with ISO 20022 messages.

What are the testing deadlines for TPSPs like Finzly and for financial institutions?

- April 30, 2024 for third-party service providers and software vendors to provide sufficient time for them to roll out their software to their clients.

- December 31, 2024 for financial institutions

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