Our strategic approach to the FedNow^SM Service ISO^® 20022 message specifications

The year is off to a fast start for the FedNow Service. We recently announced the 110+ strong pilot participant roster and a narrowed timeframe — now 2023 — for the industrywide service launch. Next on the horizon is the publication of the ISO 20022 message specifications for the FedNow Service later this month. These specifications will define the message flows and formats that FedNow users and service providers will need to support at the initial service launch. As we move closer to the March publication date, we want to share the planning behind the specifications to give you a sense of what to expect when we release them.

Note

“ISO” is a registered service mark of the International Organization for Standardization.