Key benefits of ISO 20022 for SVB Go

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Increase payments efficiency
  • You may see faster processing of your payments as SVB Go transactions are formatted in the new ISO 20022 standard
  • Standardization increases efficiency by eliminating the variances in messaging between banks so they can process payments more easily and with more detailed data
  • Gain deeper insights with new data fields included in outgoing payments (e.g., purpose of payment and creditor) and receive more data about incoming payments
  • Enhance remittance for outgoing payments including richer data supported by ISO 20022
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Improve end-to-end tracking

Track domestic payments across their full lifecycle, including:

  • Add your unique reference number in the end-to-end ID field that will be in the payment from start to finish
  • You can give the ID to SVB and also provide it to the recipient, so they can easily find this information in a designated place within the message
  • Available for cross-border payments in the first half of 2026
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Enrich reporting
  • Help streamline reconciliation with additional data when you send and receive payments
  • Access more detailed remittance information, including Purpose of Payment and Related Remittance fields
  • Save time and costs with richer data in reporting and payment tracking and tracing
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Simplify tax payments by wire
  • Clients no longer need to format wire for US tax payments themselves
  • Simply provide your details to SVB and we will format the wire transfer for you

Learn more about SVB's migration to ISO 20022