Effective March 10, 2025, the Federal Reserve will adopt the ISO 20022 format for Fedwire® messages. ISO 20022 is a standard for exchanging electronic messages between financial institutions worldwide. It enables interoperability and creates efficiency, standardization, and data richness.
If your credit union uses Corporate One's domestic wire system, details regarding testing/validation of the changes are forthcoming. If your credit union downloads wire files or has Corporate One submit them via .sftp to your vendor, please ensure that your vendors are ISO 20022 compliant and will accept them. For questions, please call 866/MyCorp1 (866/692-6771).
ISO 20022 Basics
This one-hour webinar covers all the basics, including the Payments & Cash Management business domain, the four message sets within this domain, the benefits of ISO 20022 messages in payments, and more. Featuring EPCOR’s Director, Payments Education, Sharon Hallmark, AAP.