A Beginner'S Guide To Cross-Border Payments

Mastering SWIFT Payments and Cross-Border Transactions, Understanding How Money Moves.

What you'll learn

Understanding Payment Basics and the Building Blocks of Payments

Navigating the SWIFT Network: A Comprehensive Guide

Mastering Payment Methods and Message Categories

Preparing for Tomorrow: Exploring Future Trends in Payments

Requirements

Interest in Payments and Financial Systems

No Prior Experience or knowledge required

Description

Welcome to "A Beginner's Guide to Cross-Border Transactions"! In this practical and interactive course, we'll embark on an exciting journey to unravel the mysteries of cross-border transactions and gain a deeper understanding of how money flows around the world.Are you curious about how payments work? Do you want to know more about the systems that enable seamless financial transactions between countries? If so, you're in the right place! Throughout this course, we'll demystify complex concepts and break down the fundamentals of global payments in a clear and accessible way.Using simple language and engaging visuals like drawings, we'll explain concepts step-by-step, ensuring that everyone can follow along and grasp the material. Plus, we'll enhance your learning experience with quizzes, resources, and interview preparation, making the course interactive and useful.From the basics of payment messaging to the intricacies of settlement and clearance, we'll cover it all. You'll learn about different types of accounts, explore the role of financial institutions, and discover the inner workings of the SWIFT network – the backbone of international finance.But we won't stop there. We'll also dive into payment methods, explore emerging trends like SWIFT GPI, and discuss the future of payments with initiatives like ISO20022. By the end of the course, you'll have the knowledge and confidence to navigate the world of cross-border transactions like a pro.Whether you're a complete beginner or someone looking to expand your understanding of global payments, this course is for you. Join us and take the first step towards mastering the fascinating world of international finance!

Overview

Section 1: Welcome and Course Introduction

Lecture 1 Welcome to the Course

Lecture 2 Topic of Contents

Section 2: Introduction to Payment, Payment System and Payment Models

Lecture 3 Introduction to Payment

Lecture 4 What is Payment System

Lecture 5 Payment Systems-Payment Models – Open loop models and close loop models

Lecture 6 Four Corner Model

Section 3: Key Element of Payment System

Lecture 7 Messaging

Lecture 8 Clearing

Lecture 9 Settlement

Section 4: Correspondent Banking and Payment Concepts

Lecture 10 Push and Pull Payment

Lecture 11 Domestic Payment and Cross Border Payment

Lecture 12 Customer and Interbank Space

Lecture 13 Financial Messaging Standards

Lecture 14 Correspondent Banking - nostro, vostro and loro account

Lecture 15 Unilateral and Bilateral Relationship

Lecture 16 Corrospondent banking and FX currencies

Section 5: Introduction to SWIFT

Lecture 17 What is SWIFT and WHY need SWIFT

Lecture 18 SWIFTNet

Lecture 19 RMA

Lecture 20 Guide on RMA

Lecture 21 Services provided by SWIFT

Lecture 22 BIC

Lecture 23 IBAN

Lecture 24 SWIFT MT message category and type

Lecture 25 SWIFT Message Structure

Lecture 26 SWIFT Message detailed explanation on MT Structure

Section 6: SWIFT MT Messages

Lecture 27 SWIFT MT message Category 1 Introduction

Lecture 28 SWIFT MT101 message

Lecture 29 SWIFT MT103 Message

Lecture 30 SWIFT MT102 and MT104

Lecture 31 Messages used for Cheques

Lecture 32 SWIFT MTn90 and MTn91

Lecture 33 SWIFT MTn92

Lecture 34 SWIFT MTn99

Lecture 35 SWIFT MT200 and MT201

Lecture 36 SWIFT MT202

Lecture 37 SWIFT MT202 COVER

Lecture 38 SWIFT MT204 and MT210

Lecture 39 SWIFT MT900 and MT910

Lecture 40 SWIFT MT940 and MT950

Section 7: Payment Methods

Lecture 41 Payment Methods and Direct Payment

Lecture 42 Cover payment method

Lecture 43 Cover Payment End-to-End complete Process Example

Lecture 44 Cover Payment Method Example 2

Lecture 45 Serial Payment Method with Example

Section 8: ISO20022 and SWIFT MX

Lecture 46 Financial Standards

Lecture 47 Different Messaging Standards

Lecture 48 ISO20022

Lecture 49 Key Considerations for Translating MX-MT Messages

Lecture 50 MT and MX Equivalent messages in payments

Lecture 51 Updates on ISO20022 and SWIFT MX content

Section 9: Resources and Interview Payments guide

Lecture 52 PAYMENTS JOB INTERVIEW QUESTIONS

Section 10: Course Quiz

This course is for everyone! Whether you're a newcomer to the world of finance or an experienced professional looking to deepen your understanding of payments and cross-border transactions, this course is designed to cater to learners of all backgrounds and skill levels.