As the Federal Reserve’s Fedwire® Funds Service transitions to ISO® 20022 messaging on July 14, 2025, financial institutions across the country are working diligently to ensure their systems and operations are ready. For community financial institutions, this change is more than a technical upgrade, it’s a mission-critical transformation that must be handled with precision.

While system readiness is essential, contingency planning is just as critical. The Federal Reserve has advised institutions to develop and test contingency procedures to avoid service disruptions in the event your primary wire processing systems fail to accommodate ISO 20022 messages on day one.

At moments like these, having a partner like a bankers’ bank becomes invaluable.

Why Include a Bankers’ Bank in Your Contingency Plan?

Bankers’ banks like ACBB are purpose-built to serve the operational needs of community financial institutions. With deep expertise in wire processing, regulatory compliance, and payment operations, we understand the pressures you face, and we’re designed to support you when it matters most.

Having a contingency solution in place ahead of the ISO 20022 migration can:

• Safeguard business continuity during technology disruptions or system readiness delays.
• Provide alternative processing pathways for ISO 20022 compliant wire transfers.
• Support compliance and risk mitigation through built-in controls and screening.

But not all contingency solutions can be implemented overnight. That’s why proactive planning is essential. Any institution looking to use ACBB for wire contingency processing must establish the relationship in advance, including appropriate onboarding, BSA/AML approvals, and technical setup with both ACBB and the Federal Reserve.

ACBBapex: A Proven ISO 20022-Ready Wire Platform

Our wire processing platform, ACBBapex, has been certified by the Federal Reserve for ISO 20022 and is equipped with:

• Full compatibility with ISO 20022 wire message formats
• Integrated OFAC screening and anomaly detection for compliance and fraud support
• The ability to send and receive wires through your FRB account or an ACBB DDA
• Enhanced reporting and visibility for your team

While our technology is powerful, it’s our partnership approach that makes the difference. We work side by side with our clients to ensure both readiness and resilience.

Don’t Wait Until It’s Urgent

Community financial institutions are essential to the health of local economies. The upcoming ISO 20022 migration is an opportunity to strengthen your operational resilience by establishing trusted partnerships before you need them. If your institution has not yet formalized a contingency wire solution, now is the time.

Let ACBB be part of your preparedness strategy. Get in touch today to learn more.