Finzly Clients Ready for Fedwire's ISO 20022 Shift

Financial institutions using Finzly's ISO 20022-native platform pass comprehensive testing ahead of July 14 Fedwire deadline

CHARLOTTE, N.C., July 10, 2025 /PRNewswire/ -- Finzly, a leading provider of modern payment infrastructure for financial institutions, has achieved a key milestone with every financial institution in its client portfolio successfully completing ISO 20022 readiness testing. This testing confirms that all financial institutions on Finzly's ISO 20022-native payments platform are fully ready for the Federal Reserve's Fedwire Funds Service compliance deadline on July 14, 2025.

Unlike legacy translator overlay projects that are time-consuming and offer limited functionality, Finzly's platform was designed from the ground up for ISO 20022 message processing. This native approach eliminates manual intervention and translation needs, enabling seamless data exchange between financial institutions, their customers and the market infrastructure on the Fed.

"What this milestone really shows is the trust banks place in us to handle the complexity, so they can stay focused on their customers," said Booshan Rengachari, founder and CEO of Finzly. "We don't take that trust lightly - it drives everything we do."

Finzly is the platform of choice for banks and credit unions, offering a unified, modular end-to-end payments hub that handles instant payments, domestic and international wires, and ACH processing. Designed for flexibility, it meets each institution's unique needs, with implementations completed in as little as four months, speeding up time-to-market.

Built on a native ISO 20022 architecture, Finzly automatically converts legacy FAIM formats, ensuring a smooth, disruption-free transition. With API-based wires, 100% straight-through processing, and support for embedded banking, Finzly delivers a sleek, future-ready wire experience seamlessly integrated into any banking environment.

Finzly's unified platform, fully integrated with the Federal Reserve, The Clearing House (TCH), and SWIFT, enables financial institutions to lead in today's fast-evolving payments landscape by processing ACH, domestic and international wires, RTP, and FedNow with exceptional speed and accuracy across all channels.

ISO 20022 Readiness Checklist for Financial Institutions

For financial institutions still evaluating ISO 20022 solutions, Finzly recommends these critical vendor criteria:

• Native ISO 20022 design - avoid translator overlays
• Pre-wired connectivity to Federal Reserve, TCH, and SWIFT
• Rapid deployment – sub six month implementations
• Multi-rail consolidation across ACH, Fedwire, Swift, RTP, and FedNow
• Automated format conversion for seamless legacy integration
• API-first architecture for future growth and embedded banking
• Easy integration to core and other systems

About Finzly

Finzly powers banking transformation through radically simple technology solutions for financial institutions. Our award-winning bank modernization platform enables banks and credit unions to rapidly deploy modern payment and FX capabilities across all rails including ACH, Fedwire, SWIFT, and instant payments through unified, ISO 20022-native architecture. With Finzly's cloud-native platform BankOS, financial institutions can orchestrate payments intelligently, offer advanced FX solutions, and accelerate money movement without replacing legacy infrastructure. We empower banks to compete effectively by quickly launching new services that meet evolving customer demands while dramatically reducing implementation complexity and time-to-market. Experience how Finzly makes banking transformation radically simple at finzly.com.

SOURCE Finzly