Power Hour - Transitioning Fedwire Funds Service to ISO 20022-Are you Ready?

Description

This session will be presented by Leslie Lee, Payment Product Strategy Specialist at the Federal Reserve Bank of New York.

Session Description: 

 Federal Reserve Financial Services will transition the Fedwire® Funds Service to the ISO® 20022 format on July 14, 2025. With this deadline fast approaching, it’s essential to take steps to ensure your institution is fully prepared. This session will remind attendees of the importance of testing (e.g., exchanging ISO 20022 messages with their peers and simulating real-world scenarios to ensure seamless payment processing). Additionally, we’ll emphasize the importance of developing strong preparedness and contingency plans to safeguard against potential disruptions.

Learning Objectives:

• Understand the latest updates on the implementation of the new ISO 20022 format.
• Recognize the importance of conducting thorough testing before the implementation of ISO 20022.
• Create effective preparedness and contingency plans for a smooth transition to minimize disruptions.
• Engage in a Q&A session to address specific concerns and gain insights from experts.

Leslie Lee is a Payment Product Strategy Specialist at the Federal Reserve Bank of New York. With over 15 years of Fedwire^® Funds Service product management experience, Leslie is currently managing the upcoming global ISO 20022 message format migration for the Fedwire Funds Service on July 14, 2025, focusing on industry readiness and customer testing. Before joining the Federal Reserve Bank of New York, Leslie held various roles in marketing and communications at the Federal Reserve Bank of San Francisco. She lives in Brooklyn, New York, with her husband John and daughter Ella, who will start high school in the fall. In Leslie’s spare time, she enjoys gardening and exploring new restaurants, combining a love for nurturing plants with a passion for culinary adventures!