All Finastra Payments customers are successfully processing Fedwire transactions on the latest global messaging standard, unlocking greater efficiency, data, and trust
LAKE MARY, Fla., July 24, 2025 /PRNewswire/ -- Finastra, a global provider of financial services software, today announced that 100% of its Payments customers successfully migrated to Fed ISO by the July 14, 2025 deadline and are now processing Fedwire transactions using the new ISO 20022 standard. This milestone positions Finastra's customers at the forefront of the industry, empowering financial institutions to stay ahead and meet customer demand in a rapidly evolving landscape.
"Finastra's proactive engagement, deep expertise, and unwavering commitment ensured a seamless transition and revealed new efficiencies in our payments operations," said James Belliveau, CIO, EVP Electronic Banking at Berkshire Bank. "Our partners at Finastra have consistently demonstrated real, tangible value and reliably show us that they are more than just a vendor - they are a strategic partner dedicated to our ongoing success."
As one of the first software providers to be certified for ISO 20022 compliance for Fedwire last year, Finastra has set a new benchmark for operational excellence and regulatory compliance in payments processing. The company currently processes 25% of the total US Fed volume, reflecting the trust and confidence placed in its solutions by financial institutions of all sizes around the world. Globally, Finastra's customers process over $7 trillion in payments each day, leveraging the company's robust technology to ensure seamless operations and superior customer experiences.
"Our unwavering focus on customer-centric innovation, reliability, and compliance has allowed us to guide our customers through this critical transition with minimal disruption," said Barry Rodrigues, EVP, Payments at Finastra. "With the successful migration to ISO 20022, our customers are now equipped to deliver richer data, drive efficiency, and unlock new possibilities in the world of payments."
Erika Baumann, Director of Commercial Banking & Payments at Datos Insights, said, "The transition to ISO 20022 is a watershed moment for the payments industry. Moving to this messaging standard paves the way for modernization and consistency across the global financial ecosystem. It has strong potential to drive innovation and enable institutions to deliver better, faster, and more secure payment services to their clients."
Finastra's payment solutions, such as Payments To Go and Global PAYplus, are designed to simplify the complexities of modernization for middle market and large financial institutions alike. By providing a scalable pathway to modernization, Finastra enables financial institutions to be prepared for and meet ongoing regulatory and compliance deadlines.
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About Finastra
Finastra is a global provider of financial services software applications across Lending, Payments, Treasury and Capital Markets, and Universal (retail and digital) Banking. Committed to unlocking the potential of people, businesses and communities everywhere, its vision is to accelerate the future of finance through technology and collaboration, and its pioneering approach is why it is trusted by ~8,100 financial institutions, including 45 of the world's top 50 banks. For more information, visit finastra.com.
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