Federal Reserve announces ISO® 20022 specifications for initial launch of the FedNowSM Service

The Federal Reserve has released message specifications for the initial launch of its FedNow Service for instant payments based on the standard set by the International Organization for Standardization, or ISO. The FedNow ISO 20022 specifications define the message flows and formats that the service will leverage when operational in 2023.

Read more here: https://www.frbservices.org/financial-services/fednow/blog/announcing-iso-20022-specifications-initial-launch-fednow.html