generated: '2026-07-24'
method: searched
source: https://www.frbservices.org/financial-services/fednow/what-is-iso-20022-why-does-it-matter
standards:
- id: iso-20022
  conforms: true
  evidence: >-
    FedNow is ISO 20022 native. Message specifications for customer credit
    transfers, requests for payment, liquidity transfers and system/account
    reporting are published on SWIFT MyStandards under the Federal Reserve
    Financial Services group.
- id: mutual-tls
  conforms: true
  evidence: >-
    FedNow / FRFS APIs require a client PKI certificate per environment (Test and
    Production) presented on each request (mutual TLS).
- id: real-time-payments
  conforms: true
  evidence: >-
    FedNow is a 24x7x365 instant-payments rail with immediate interbank
    settlement in central bank money, alongside RTP and ACH as one of three
    domestic U.S. rails.
- id: rfc9457-problem-details
  conforms: false
  evidence: No public OpenAPI or error schema is published to confirm.
- id: oauth2
  conforms: false
  evidence: Authentication is mutual-TLS + Client ID, not OAuth2.
- id: openid-connect
  conforms: false
- id: fapi
  conforms: false
notes: >-
  ISO 20022 is the anchor conformance claim for FedNow. The ISO 20022 message
  library, implementation guide and readiness/testing portal are hosted behind
  SWIFT MyStandards and require a SWIFT account to view.