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  7. February 2024 - On the Wire - ISO® 20022 Newsletter
On the Wire

February 2024: On the Wire - ISO® 20022 Newsletter

Preparing your wire ecosystem for ISO® 20022

Reminder

Readiness for the ISO 20022 implementation involves more than updating your interface to the Fedwire® Funds Service or working with your service provider. If you have not already done so, take action today! Inventory all of your upstream/downstream systems (client-facing systems, OFAC scanning, anti-money laundering, fraud monitoring, reporting, analytics, etc.) that support your wire operations. Work with your internal software developers and vendors that support these systems to ensure readiness for the fast-approaching Fedwire Funds Service ISO 20022 migration on March 10, 2025.

Update

Refreshed import/export webinar and new sample import file available

The FedPayments® Manager – Funds import/export webinar has been refreshed and is now available on the Fedwire Funds Service ISO 20022 Implementation Center’s Education page. Be sure to view this recording as it reflects important changes you need to know if you use the import/export feature. Additionally, we have created a sample import text file that contains two types of messages (i.e., pacs.008 and pacs.009). This file can be downloaded from the Fedwire Funds Service Release 2025 – Technical Documentation private page in the MyStandards® platform provided by SWIFT® and used as a reference for users to create their own import test files.

I'm New

Revised documents posted to MyStandards

The following documents have been posted to the Fedwire Funds Service page in MyStandards. Please refer to the Document Change History in each of the documents to view the changes:

  • Fedwire Funds Service ISO 20022 Technical Guide (v1.3)
  • Fedwire Funds Service proprietary incoming and outgoing XSD files
  • DIT2 Test Script (v1.2)
  • Quick Reference Guide (Revised February 21, 2024)
Coming soon

Sample ISO 20022 origination messages coming soon

We have received several customer requests for sample ISO 20022 messages that contain all three components (i.e., message envelope, business application header and ISO 20022 business message). In response to these requests, we plan to provide a set of origination messages for FedLine Direct® users as a reference to create their own messages to test in the DIT2 environment. These sample messages should be posted to the Fedwire Funds Service Release 2025 – Technical Documentation private page in the coming weeks.

A hand holding a pen pointing up

Ask your questions at a 2024 drop-in session

Registration is open for our focused drop-in sessions on the Fedwire Funds Service ISO 20022 Implementation Center’s Education page. These sessions are an open forum for the FedLine Direct and FedLine Advantage® (FedPayments Manager – Funds) communities to ask any questions about the ISO 20022 migration.

You can register for our Q1 dates below:

Wednesday, February 28
FedLine Advantage Community

Register for the February 28 Drop-In Session

Wednesday, March 27
FedLine Direct Community

Register for the March 27 Drop-In Session

Want to learn more?

More information

Be sure to bookmark the Fedwire Funds Service ISO 20022 Implementation Center (e.g., view on-demand webinars, register for live events) so you have access to the latest information about this project and contact us if you have any specific questions related to this newsletter.

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