PCBB Achieves Early Certification for ISO® 20022 for the Fedwire® Funds Service
24 Julio 2024 - 12:30PM
PCBB, a leading provider of correspondent banking solutions, is
proud to announce that it has attained the Fedwire ISO 20022
Depository Institution Testing Environment (DIT2) certification
from the Federal Reserve Bank. This certification marks a
significant milestone in PCBB’s commitment to adopting the latest
standards for financial messaging, well ahead of the scheduled
industrywide, single-day implementation set for March 10, 2025.
ISO 20022 is the global standard for financial messaging that
improves data quality, efficiency, and transparency in financial
transactions. It is one of the most substantial changes in the
payments industry to occur in decades and will be critical to
real-time payment processing. ISO 20022 establishes new data fields
that facilitate the inclusion of richer transaction data, while
enhancing straight-through processing and improving the overall
payments experience. By achieving this early certification, PCBB
can thoroughly test and optimize its systems, ensuring a smoother
and more reliable experience for our customers. This minimizes the
risk of disruptions during the official cutover period, maintaining
consistent service quality.
"Being among the early adopters of ISO 20022 is an achievement
we’re proud of," said Shiva Sandy, Chief Technology Information
Officer of PCBB. "This certification solidifies our commitment to
providing the latest technological advancements in our solutions to
our customers. It allows us to increase our operational efficiency
and deliver even more value to our customers."
Sheila Noll, Chief Operating Officer of PCBB, added, "Achieving
this certification ahead of the industry deadline demonstrates our
proactive approach and leadership in the digital payments sector.
Our clients will benefit from improved transaction speed, accuracy,
and security. This early adoption also positions us to stay ahead
of industry changes and continue to meet the evolving needs of our
clients."
PCBB’s early certification for ISO 20022 underscores its ongoing
commitment to innovation and excellence in financial services. By
adopting this standard ahead of the industry timeline, PCBB is
setting a new benchmark for operational excellence and client
satisfaction.
About PCBBPCBB believes in the power of local
financial institutions to be the catalyst of small business growth
and to enable communities to thrive. Our team is committed to
providing not only the tools and knowledge our customers need to
serve their clients, but also the partnership and trust they
deserve.
Our robust suite of competitive services includes cash
management and international services, lending solutions, and
profitability and risk management advisory services. These
solutions help community financial institutions maximize revenue,
increase efficiency, and manage risk. For more information, visit
www.pcbb.com.
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Media Contact: Nancy
OzawaPCBBnozawa@pcbb.com(888) 399-1930 x177