ISO 20022 FedWire Conversion
AN UPCOMING CHANGE TO YOUR WIRE FORMAT
Coming soon, the Federal Reserve will be adopting the global standard and converting the FedWire system to the ISO format.
The financial services industry is made up of financial institutions, government agencies, financial technology and payment service providers that require a seamless exchange of information to facilitate your transactions. Due to the vast nature of service offerings and payment channels, groups of experts from industry, governmental, and non-governmental organizations have developed ISO 20022, a global standard for information exchange.