IMPORTANT: Wires updates

transition from fedline advantage® to fedline direct® cross river is in the process of transitioning from fedline advantage® (fla) to fedline direct® (fld), enhancing our wire processing capabilities key benefits of fedline direct (fld) extended processing hours to improve flexibility and efficiency faster turnaround times with our direct access to fedwire greater reliability via fedline direct’s robust infrastructure processing window improvements wires can now be processed from 9 00 pm (previous day) through 7 00 pm (current business day) note that if a wire is placed on hold, it must be manually cleared by our internal team, who are available from 9 00 am – 5 00pm et (monday–friday) wire requests received after 3 00 pm et may be processed on the next business day while we work to release as many as possible on the same day, we cannot guarantee that all wires will be reviewed and cleared up until 5 00 pm et transition timeline sandbox launch september 2, 2025 production launch september 14, 2025 no action required the transition will be seamless on your end no changes or build work are needed this transition is designed to provide a smoother, faster, and more efficient wire transfer experience, with extended processing times and the removal of manual touchpoints iso 20022 messaging standard as part of the industry wide transition to the iso 20022 messaging standard, fedwire will adopt this standard on july 14th, 2025 migration to iso 20022 enhances financial messaging, improves data quality, and increases efficiency across payment networks during cross river's transition to the iso 20022 standard we will maintaining existing functionality the older messaging standard will be mapped to iso 20022, with all changes occurring in the backend as primarily technical updates these backend changes will not impact partner facing functionality , ensuring that transaction initiation and processing remain consistent within our system read more about it fedwire funds service iso 20022 implementation center | federal reserve financial services what you need to know while cos functionality will largely remain unchanged, we are managing iso 20022 compatibility in the backend to ensure a seamless transition with minimal impact to partners while the message format will be updated, we will provide clear guidance to help ensure accurate data input and prevent errors we are introducing important wires api update due to the migration we have updated the wires to reflect these changes here are a few examples of how transactions will be handled post migration ctrs (customer transfers) → will continue to be processed as ctrs, though they will be converted to pacs 008 in the backend svcs (service transfers) → will retain their current functionality with the following mappings svc 1090 → mapped to camt 110 (investigation requests) and camt 111 (investigation responses) in the backend svc 1001 and 1007 → mapped to camt 056 (return requests) in the backend drcs (drawdown requests) → will still be processed as drcs, though they will be converted to pain 013 in the backend drws (drawdown payments) → will remain drws, with responses to incoming drawdown requests handled as follows negative responses → mapped to pain 014 in the backend positive responses → mapped to pacs 008 in the backend we will also be making updates to the return requests and introducing the investigation requests docid\ qkw9psknysstzpjqbb3k8 feature , which will take effect on july 14th, 2025 summary of changes include the request service message button will be relabeled respond to return request this option will be used exclusively to respond to incoming return requests (svc 1001 or svc 10077 / camt 056) you can initiate all returns (full and partial) using the reverse wire option this provides a simplified and consistent way to process returns the new respond to service message feature will support replies to non return related service messages , such as investigation requests (svc 1090 / camt 110) note the following fields have been expanded under iso for incoming wires only these expanded lengths are not applicable to outgoing wires while not all fields may be visible to partners via webhooks, they are supported within the system beneficiary reference – 35 characters originator to beneficiary 1 – 140 characters originator to beneficiary 2 – 140 characters sender reference – 35 characters originating fi name – 140 characters originator name – 140 characters intermediary fi name – 140 characters beneficiary fi name – 140 characters beneficiary name – 140 characters change timeline and milestones april 11, 2025 – new api validations and default values available in sandbox (live) these updates are now live in sandbox you can begin testing and adapting your systems in preparation for the upcoming migration may 18, 2025 – new api validations and default values go live in production these changes will be deployed in production two months ahead of the iso 20022 migration to give you time to validate in a live environment june 8, 2025 – iso 20022 format goes live in sandbox the iso 20022 message format will be enabled in sandbox, allowing you to test your integration and gain familiarity ahead of the july 14, 2025 production launch july 11, 2025 – 5 15 pm et cutoff for certain transactions customer transfers (ctrs) any ctrs initiated after 5 15 pm et will not be processed on the same day and will be handled after migration on july 14th, 2025 drcs and svcs we strongly advised you not to initiate the following transactions after 5 15 pm et on july 11th to avoid potential processing delays drcs (drawdown requests) svcs (service messages) if any transactions cannot be processed, your relationship manager will provide a list for re initiation on july 14th, 2025 july 14th, 2025 – iso 20022 migration and new format in use the iso 20022 format officially replaces faim, and all payments will be processed using the new messaging standard if you have any questions or need further assistance, reach out to your relationship manager