The Federal Reserve Banks today announced plans to complete their migration to the ISO 20022 standard for their real-time gross settlement system, the Fedwire Funds Service, by the end of 2023. Adopting the ISO 20022 standard for payments clearing and settlement messages supports the Federal Reserve’s strategy to enhance the …
When it comes to sending and receiving electronic invoices, modern businesses are faced with a mountain of options and considerations. Businesses must also navigate the additional challenges of integration with their trading partners driven by the many different e-invoice technical standards available in the U.S. market. Wouldn’t it be nice …
In last week’s webcast President George and Governor Powell shared insights on the Federal Reserve’s Next Steps in the Payment Improvement Journey (PDF) and answered questions regarding the Fed’s updated strategies. Over the next two months we’ll be hosting a FedForum webinar series that will go into further detail on …
In today’s webcast, President George and Governor Powell shared insights on the Federal Reserve’s Next Steps in the Payment Improvement Journey (PDF) and answered questions regarding the Fed’s updated strategies to enhance the speed, safety and efficiency of the payment system from end to end through industry engagement and collaboration. …
Mark your calendar to join Kansas City Fed President Esther George and Federal Reserve Board Governor Jay Powell on Thursday, September 21, for a webcast at 11:00 a.m. ET. They will share views on the Federal Reserve’s plans for near-term collaboration with the industry to move closer to achieving the desired …
The Federal Reserve System is pleased to release Strategies for Improving the U.S. Payment System: Federal Reserve Next Steps in the Payments Improvement Journey (Next Steps), which outlines a series of refreshed strategies and nine new tactics the Federal Reserve will employ, in collaboration with industry, to further progress toward …
As part of an educational outreach program designed by the Federal Reserve Banks to increase awareness of how ISO® 20022 will impact the Fedwire Funds Service, we will be offering two new ISO 20022 educational webinars this fall: ISO 20022 Beginner Webinar October 5, 2017 from 1-3:00 p.m. ET Join …
The Business Payments Coalition (Off-site) originally released the Small Business Payments Toolkit (PDF) in April of 2015 to further encourage the adoption of electronic business-to-business payments and remittance information exchanges by small businesses. Each volume builds upon the content released in previous volumes with new content and updates made to address …
As we enter into 2017, it’s hard to believe that it has only been two years since we published Strategies for Improving the U.S. Payment System (PDF), our multi-year plan that focuses on end-to-end improvement of the speed, efficiency and security of our country’s payment system. To commemorate another year …
Explore the possibility by reading the U.S. Adoption of Electronic Invoicing: Challenges and Opportunities (PDF) paper release by the Payment, Standards and Outreach Group of the Federal Reserve Bank of Minneapolis. In keeping with the desired outcome of end-to-end efficiency detailed in the Strategies for Improving the U.S. Payment System …