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SVB Transact Gateway & ISO 20022: Streamlined payments and richer data
SVB is migrating to the new ISO 20022 messaging standard to enable faster, more data-rich payments and reporting via the Transact Gateway (TAG) portal
Key benefits of ISO 20022 for TAG
Automating payments and reporting with files transmitted through Transact Gateway will be further enhanced as we migrate to ISO 20022.
Faster payments
ISO 20022 formatted payments made through TAG will enable improved straight-through processing and more detailed data to help simplify reconciliation.
Richer payment initiation
TAG will provide additional data that helps draw deeper insights if your ERP can support ISO 20022. You will have access to enhanced reporting with richer data from many of the new ISO 20022 message types.
Migrating TAG to ISO 20022
We'll provide tailored guidance to help you take advantage of benefits, based on your needs.
Initiating payments
You can transmit payment requests in the following formats:
- New pain.001 message type that complies with ISO 20022 standards and will include richer fields over time.
- Currently supported message types (including MT formatted messages) will still be supported but may not include the richer data offered by ISO 20022.
During 2025-2026, we will support you in remediating file specs for ISO 20022 compliance, which will be necessary whether you use the new or current file types.
Information reporting
- New for ISO 20022: TAG will enhance current reporting file types (ISO camt.052, camt.053) to include new data fields for more detailed reporting.
- Current reporting file types: You can continue to use BAI2, CSV, SWIFT, MT940, MT942 file types, and when possible they will also include new data fields.