News Summary

• Fedwire, the Real-Time Gross Settlement (RTGS) service operated by the Federal Reserve, finally went live with ISO 20022 messaging on July 14, 2025.
• The Fedwire migration now aligns the US with this global movement and enables full interoperability with international systems and standards.
• But many banks still lack a 360-degree view of the customer across domestic and cross-border payments.
• Rather than maintaining fragmented payments engines, banks should now aim to create a unified, scheme-agnostic payments processing platform.