The Federal Reserve Banks will require all wire transactions to be in compliance with the ISO 20022 message format for the Fedwire Funds Service on March 10, 2025. As financial institutions brace for the compliance deadline, it’s imperative to view this change not just as a regulatory checkbox but as a significant opportunity to upgrade wire transfer capabilities.
In this American Banker-hosted webinar featuring Alacriti’s Neeraj Gupta, SVP of Product Management, discover:
- How compliance through automation turns a regulatory requirement into a pivotal growth opportunity.
- How automation is revolutionizing the wire transfer process, drastically reducing manual labor and error rates that can result in up to 50% cost savings
- The importance and benefits of transitioning to ISO 20022 for wire transfers
- How ISO 20022 compliance drives modernization, straight-through processing, and globalization
- How wire modernization goes beyond operational efficiency and translates to customer satisfaction
- Which payments rails to continue supporting in light of instant payments
