Session Recap: The XP2 Roadmap with Charles Cornelison

Charles Cornelison has spent more than 35 years helping financial institutions get technology right, from the earliest planning conversations through delivery and long-term operations. That range showed on Thursday, as he walked the room through the XP2 roadmap using a simple lens: every piece of work this year sits under one of five pillars.

The headline: IRS is retiring FIRE

The biggest news of the session was regulatory. The IRS is sunsetting its legacy FIRE reporting system in favor of IRIS, its new XML-based transmission standard, starting with Tax Year 2026 filings. Every credit union filing 1098, 1099, 1042, or 5498 forms will eventually need to make the switch.

Fiserv's answer is a new enterprise IRIS Transmission Service, built to absorb that complexity on your behalf — schema transformation, credentialing, validation, and correction workflows included. 2026 is a bridge year: Fiserv will keep generating the modified FIRE flat file you're used to, then convert it behind the scenes for delivery to the IRS. The full move to native IRIS XML formatting lands in 2027.

"We take on the complexity, so your team doesn't have to." — on Fiserv's approach to the FIRE-to-IRIS transition

Customs to Core: you get the final vote

Charles also gave an update on Customs to Core, the program that migrates credit union custom jobs into the base XP2 product. Fiserv commits to moving a minimum of two custom jobs per release — and which two move next is decided by client vote in the Aha! idea portal.

Two jobs are already locked in for the June 2026.1 release: a Positive Balance File generator for card processors, and a batch tool for updating deposit and share account types. Two more are up for a vote now for the 2026.2 release, covering member and account-level stop codes and linking cardholders to individuals and addresses. If your credit union doesn't have Aha! access yet, a quick email to the Idea Portal team gets you set up.

The 2026 release calendar

For planning purposes, here's the full-year delivery schedule as presented, including which releases are required versus optional:

One reminder from the session worth repeating: an optional release is only optional if you don't need what's in it. If a feature you're waiting on ships in an optional release, plan to load that version — and remember every client must be current on the end-of-year release by December 31.

Looking further out

Beyond the immediate roadmap, Charles previewed work already underway for late 2026: MFA via TOTP, member-driven web-based skip payment, customized picture card creation, and early groundwork for responsibly extending AI within XP2. He also flagged a few smaller regulatory items credit unions should have on their radar, including new 1098-VLI reporting for vehicle loan interest and NCUA share insurance updates.

Want the full detail behind any of this — the complete Customs to Core candidate list, the IRIS transition timeline, or the enhancement backlog? It's all in the deck and recording above.