The Federal Reserve Banks have announced plans to migrate to the ISO 20022 message standard for the Fedwire® Funds Service. Adopting the ISO 20022 standard for payments clearing and settlement messages supports the Federal Reserve’s strategy to enhance the efficiency of both domestic and cross-border payments as described in Strategies for Improving the U.S. Payment System: Federal Reserve Next Steps in the Payments Improvement Journey.
To prepare for the migration, the Federal Reserve Banks are working directly with the software vendors identified below that provide products designed to interface with the Fedwire Funds Service. The following lists are provided as a convenience for Fedwire Funds Service participants only. The Federal Reserve Banks DO NOT endorse any particular vendor or vendor product.
If you are a Fedwire Funds Service participant that uses a software vendor whose product interfaces with the Fedwire Funds Service but the vendor is not listed below, please submit (Off-site) the name of the software vendor, including contact information, so the Federal Reserve Banks can work with that vendor to prepare for the migration.
For the latest information on the Federal Reserve Banks’ approach to implementing ISO 20022 messages for the Fedwire Funds Service and planned educational outreach events, please visit the Fedwire Funds Service ISO 20022 Implementation Center.
For additional background information, please visit The Fed’s Resource Center for Adoption of ISO 20022 for Payment Messages (Off-site).