Industry Adoption of ISO 20022 Standards for Wire Transfer Services

What you need to know

We are ensuring readiness to support ISO 20022 to avoid impacts to your organization’s wire payment processing. Below is everything you need to know to prepare. As additional changes are introduced to align with the new requirements, this page will be revised. Synovus Gateway® Administrators and Users will also receive messaging within the portal where action to comply is required.


About ISO 20022

ISO 20022 is an international standard for electronic data interchange between financial institutions. It provides a common platform for the development of messages using a standardized approach. The standard is set by the International Organization for Standardization (ISO) and defines how financial institutions should format their payment messages.


ISO 20022 benefits

ISO 20022 allows more detailed information to be provided with wire transfers, such as invoice numbers, descriptions, and currency codes appended with each transaction. This leads to better data quality, enhanced interoperability, and improved transaction speed. Overall, the new standard will enhance the efficiency of domestic and cross-border payments.


The Federal Reserve will adopt IS0 20022 formatting effective July 14, 2025

While ISO 20022 is the current global standard, the Federal Reserve currently utilizes a proprietary messaging format known as FAIM (Financial Application Integration Messaging). This format will be sunset on July 14, 2025, and replaced with the ISO 20022 message format within the Fedwire system for incoming and outgoing wire transfers. While most changes will be imperceptible, there will be limited wire format adjustments within Synovus Gateway.

Below is a sample of how the screen will appear with newly required information prompts for both the Beneficiary Financial Institution (FI) Address and the Intermediary FI Address.


Take action now to prepare

There are actions you should take now to prepare to ensure compliance with the new standards.

  • Review wire recipients within Gateway and verify complete information: If the Beneficiary FI Address is missing, enter it by searching by name or routing number to auto-populate the address or enter it manually. Also take the opportunity to delete outdated recipient information.
    • As of July 14, any recipient information not  updated to include the Beneficiary FI Address will be auto-populated in Gateway with “Not Provided” in the Address 1 and City fields and State and Postal Code fields are auto-populated with “GA 12345.” This is intended to help prompt you to enter the required information.
  • Enter the Intermediary FI Address: If the recipient uses an Intermediary FI, ensure that address is also entered.
  • Update file mappings: If you initiate wires using the "Upload from File" option, saved file mappings should be updated to include the Beneficiary FI Address and, if applicable, the Intermediary FI Address.

Have questions or need assistance?

Call us at 888-SYNOVUS (796-6887) or contact your Treasury Management Consultant.


What’s next

  • November 2025: SWIFT coexistence period ends (MXT1xx, MT2xx and MTS3xx messages will no longer be supported).
  • November 2026: SWIFT coexistence period ends (MT9xx messages will no longer be supported).

Additional resources