Beginner's Guide - SWIFT Message Types - MT and MX ISO 20022

🚀 Beginner's Guide - SWIFT Message Types: MT & MX ISO 20022 🌟

Course Overview:

Part 1 of 2 Courses | Anwesha Sengupta, CITF, CAIIB

UPDATE:

• PACS.008 Message elements
• MT vs MX Field Mapping
• SWIFT Payment Groups and Migration Timelines

What You'll Get:

• A comprehensive understanding of Swift message types (MT/MX)
• Familiarity with the structure and format of MT and MX messages
• In-depth knowledge of common MT and MX message types used in banking
• Ability to interpret and analyze MT and MX messages accurately
• Enhanced skills in handling Swift messages and related processes
• Increased confidence in working with Swift message types professionally

Who is this for?

This course is perfect for:

• Business Analysts and Consultants in the Payments Domain
• Employees of banks, financial institutions, and corporations dealing with Swift messages

Why Enroll?

• Gain a Competitive Advantage: Acquire specialized knowledge of Swift message types.
• Enhance Your Skills: Improve your understanding of the banking industry.
• Stay Updated: Keep up with the latest industry standards and best practices related to Swift messages.
• Improve Job Prospects: Increase your career growth opportunities.
• Access Quality Content: Benefit from practical examples, case studies, and high-quality course material.

Course Breakdown:

Basics:

• What is SWIFT and SWIFTNet?
• Understanding the BIC/SWIFT Code.
• SWIFT FIN and GPA Messages.
• Structure of MT Messages.
• Categories of FIN messages and Message naming conventions.
• SWIFT Rules and Guidelines.

Overview of Payment Systems:

• Understanding clearing, settlement, and messaging.
• Correspondent accounts and RMA.

MT Messages and Miscellaneous Information:

• MT Category 1: Customer Payments and Cheques.
• MT Category 2: Financial Institution Transfers.
• MT Category 9: Cash Management and Customer Status.
• SWIFT GPA Messages.
• Possible Duplicate Emission and Retrieval.

SWIFT GPI:

• Introduction to Global Payments Innovation.
• Latest Services and Products by SWIFT.

ISO 20022 MX Messages:

• The need for ISO 20022 MX Messages.
• Three layers of MX Messages.
• MT to MX changes.
• Overview of PAIN (Payment Initiation), PACS (Payments Clearing and Settlement), and CAMT (Cash Management) Messages.

SWIFT Payment Groups and Migration Timelines:

• Understanding Payment Groups.
• Migration Timelines.

Agent and Party Roles in SWIFT MX:

• Understanding Pacs.008 Message elements.
• MT vs MX Field Mapping.

Assignment and Practice Test:

To solidify your understanding and skills, you'll complete assignments and take a practice test. These will help you apply what you've learned and prepare you for real-world scenarios in the world of SWIFT messaging. 📝✏️

Join us on this journey to master the intricacies of SWIFT message types, whether you're new to the field or looking to deepen your expertise. This course is your stepping stone to becoming proficient in the language of global finance. Enroll now and unlock the door to a world of opportunities! 🚀💼✨