Duration
2 days
Overview
The Payments Industry worldwide is adopting ISO messaging standard. This Master Class will 20022 help you in enhancing your knowledge and skills in ISO 20022 Universal Financial Industry Messaging Standard as also SWIFT Standards MX.
This workshop will provide you with a detailed insight in end-to-end ISO 20022 and SWIFT MX messages for payments.
The Master Class increases your understanding of :
- SWIFT Standards MX, CPBR+ and HVPS+
- Migration from Standards MT and Standards MX for payments
- SWIFT translation services during co-existence period
- Important fields/tags/elements of ISO 20022/MX messages
- XML schema, XML instances, schema validation and extended
- non schema validations
- How serial and cover payments are made using ISO 20022
- ISO 20022 implementation by US and European payment systems
Session 01 : Introduction to ISO 20022 XSD
- XML Basics : tags, elements and element types (sequence/choice), data
- types (simple/complex), patterns
- Occurrences of tags
- External codes/bank transaction/proprietary codes and data source schemes
- Structure and format of ISO 20022 message
- Business Application Header and Document
- XML schema and XML instance
- XML schema validation, non-schema extended validation
Session 02 : Introduction to Standards MX
- What is Standards MX
- Structure and format of MX message
- Business Application Header and Document
- MX message with SWIFTNet InterAct/SWIFTNet FileAct
- Introduction to SWIFT FINplus and SWIFT Instant
Session 03 : Mandatory adoption of MX for cross border payments
- Adoption timelines and major milestones
- Cross Border Payments and Reporting Plus (CBPR+)
- Exception from migration
- Migration of RMA
- Translation options
- In-flow translation
- Central translation
- Local translation
Session 04 : Using MX for domestic and cross border payments
- Understanding mapping of MT 1XX , MT2XX and MT 9XX to MX for payments
- Introduction to pain, pacs, camt and other applicable messages for payments in MX series
- Important message elements/tags of pain.001/002, pacs.008/009/002/004, camt.054/053.
- Use of MX in high value payment systems (e.g. RBI RTGS), small value real time payment systems (e.g. US RTP) and bulk payment systems (using files e.g. STEP 2 SCT/SDD)
- End to end push transaction flow using MX
- Serial method of payment
- Cover method of payment
- End to end pull transaction flow using MX
- End to end collaborative flow using MX
- Important “R” e.g. Reject/Return messages in ISO 20022
- Exception and investigation management in MX
Programme scope, delivery arrangements and suitability are confirmed during enquiry.