ISO® 20022: What You Need to Know
The Federal Reserve will use ISO 20022, an internationally accepted data-rich messaging standard, to define the message flows and formats for the FedNow Service.
Whether you’re responsible for your organization’s FedNow Service integration, preparing to build instant payment products leveraging the FedNow Service, or are a payments processor that will help your clients connect to the service, now is the time to get to know the FedNow ISO 20022 message specifications.
Accessing the FedNow ISO 20022 message specifications
The Federal Reserve is using the MyStandards® platform to provide access to the FedNow ISO 20022 message specifications and accompanying implementation guide. You can access these on the Federal Reserve Financial Services portal (Off-site) under the FedNow Service. Users will need a MyStandards account, which you can create on the SWIFT website (Off-site). View our step-by-step guide (PDF) for tips on accessing the specifications.
Test your messages on the FedNow ISO 20022 Readiness Portal
Check compliance of your messages with the FedNow Service ISO 20022 implementation guidelines and access test use cases and sample messages on the FedNow ISO® 20022 Readiness Portal, hosted on the MyStandards platform (Off-site).
- Federal Reserve announces ISO 20022 specifications for initial launch of the FedNow Service
- Our strategic approach to the FedNow Service ISO 20022 message specifications
- Federal Reserve nears completion of industry engagement on FedNow ISO 20022 specifications
Visit Prepare for FedNow for more information about the FedNow Service, including its features and functionality.
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