What is the difference between Federal Reserve’s FedNow and Fedwire ISO 20222 and SWIFT network ISO 20022?

FedNow and Fedwire pertain to domestic payments (July 2025), and SWIFT pertains to cross-border payments (November 2025). North American financial institutions need to recognize that the July 2025 deadline for the Fed applies primarily to domestic payments, while the November 2025 SWIFT deadline pertains to international payments.