Fedwire Funds Service to adopt the ISO 20022 format standard for wired payments. — Cloud Customer Connect
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Fedwire Funds Service to adopt the ISO 20022 format standard for wired payments.

in Payables, Payments & Cash Management 1 comment

Summary:

The Fed is updating the Fedwire Funds Service to adopt the ISO 20022 format standard for wired payments. This will go into effect on July 14th, 2025. As a result of this change, BAI files from partnering banks could be impacted, which therefore could have impact on Oracle’s Cash Management solution. We would like to understand how other Oracle customers are accounting for this change or if they are not at all.

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