Event

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Alert: Fedwire® Funds Service’s ISO® 20022 implementation

18 February 2025

Alert: Fedwire® Funds Service’s ISO® 20022 implementation

Insight, Resources
The Federal Reserve Banks have rescheduled the Fedwire® Funds Service's ISO® 20022 implementation from March 10, 2025 to July 14, 2025. This single-day migration will replace the current proprietary message format with ISO 20022 messages. Financial institutions are encouraged to utilize the resources available in the ISO 20022 Implementation Center to prepare for this transition.
Modernization of Compliance Operations

1 January 2024

Modernization of Compliance Operations

Event, Resources
A leading study estimates that $61B per year is spent on compliance in the U.S. and Canada alone, with 70% of financial institutions prioritizing the reduction of costs in 2025. In an industry where 90-99% of alerts are false positives and operational inefficiency is accepted as a necessary evil, the use case for the modernization of compliance operations is clear and imminent.
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