Bankers’ Bank Announces Readiness for ISO 20022 Adoption

January 31, 2025

Bankers’ Bank, a leading correspondent bank for community banks located in Wisconsin, Illinois, Iowa, Indiana, Michigan and Ohio, is pleased to announce its successful completion of the Federal Reserve Depository Institution Testing (DIT2) and Federal Reserve Transition Readiness Review (TRR) testing, in preparation for the adoption of ISO 20022.

This global standard for electronic data interchange between financial institutions is set to be adopted on March 10, 2025. The adoption of ISO 20022 messages by the Federal Reserve Banks for the Fedwire Funds Service is a strategic requirement. ISO 20022 provides a common language and structure for financial messages, significantly improving interoperability, efficiency, and data richness across payment systems worldwide. Bankers’ Bank is committed to supporting our Community Banks through a seamless migration to this new messaging standard.

“We are proud to have completed the necessary testing and reviews to ensure a smooth transition to ISO 20022,” said Brad Stamper, President & CEO at Bankers’ Bank. “Our team is dedicated to providing our Community Banks with the support they need to navigate this important change.”