The Fedwire migration to ISO 20022, initially scheduled for March 10, 2025, has been delayed to July 14, 2025, due to readiness concerns among financial institutions and vendors. While 79% of FIs claimed they were on track, many voiced concerns about vendor preparedness and rushed implementations. In contrast, 60% of vendors reported being certified and ready, with another 30% expected to meet the new deadline. Although most anticipated a go decision, the delay reflects the need for more robust testing, system upgrades, and operational readiness for one of the most impactful messaging format shifts in payments.

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