Duration
1 day
Overview
The Payments Industry worldwide is adopting ISO b20022 messaging standard. Fundamentals program will introduce you to basics of payments and use of ISO 20022 Universal Financial Industry Messaging Standard as also SWIFT Standards MX in payments industry.
When you complete the Fundamentals Class, you will have understanding of:
- Types of payment and settlement systems
- Key elements of payment and settlement
- What is ISO 20022 and why it is needed
- How ISO 20022 messages are developed
- ISO XML schema definitions and instances
- Overview of SWIFT Standards MX, CBPR+, HVPS+
- How to use ISO 20022 pacs, pain and camt messages for payments
Session 01 : Introduction to Payment and Settlement Systems
- What is payment and settlement
- Types of payments viz. push, pull and collaborative
- Key elements of payment and settlement
- Types of payment and settlement systems
- HVPS, Bulk, Instant
- Domestic, Regional, Cross Border
Session 02 : Introduction to ISO 20022
- What is ISO 20022
- Advantages of ISO 20022
- Understanding the development methodology
- ISO 20022 repository
- Three layered approach and business models
- Five business domains supported by ISO 20022
- Development, registration and maintenance process
- Message naming convention in ISO 20022
- Overview of SWIFT standards MX
Session 03 : ISO 20022 messages for payments domain
- Overview of ISO 20022 messages for payments
- Concepts of debtor, creditor, ultimate debtor/creditor, debtor/creditor agent
- Understanding pacs, pain, camt and remt
- Use of ISO 20022 messages in push, pull and collaborative payments
Programme scope, delivery arrangements and suitability are confirmed during enquiry.