Swift Message Types - Mt and Mx Iso 20022 - an Overview

Understanding basics of SWIFT, SWIFT Payment Messages and SWIFT GPI

What you'll learn
What are SWIFT, SWIFTNet, SWIFT Code, Message Structure, Categories, Guidelines?
SWIFT MT Messages and ISO 20022 MX Messages
Overview of SWIFT GPI
None
Description
Welcome to the course!

This course is meant to give an overview of SWIFT Message types.

It begins from the basics of SWIFT and also gives an overview of the payment system as without a basic understanding of how the payment system works, understanding payment messaging is incomplete. It then gradually explains the important MT messages, the use of SWIFT GPI and finally gives an overview of the latest development in SWIFT - ISO 20022 MX messages.

This tutorial is meant for anyone new in the payments domain or anyone who want to know the basics of the latest developments in SWIFT before going to deeper understanding.

This includes examples of SWIFT messages and explanations of important fields. It shows the flow of the messages between banks visually so that its easier to understand and remember.

We will cover -

Basics

What is SWIFT and SWIFTNet

Understanding SWIFT Code or Business Identifier Code(BIC)

What are SWIFT FIN and GPA Messages

Structure of SWIFT MT Messages

Categories of FIN messages and Message naming conventions

What are SWIFT Rules and Guidelines

Overview of Payment Systems

Understanding payment systems (Clearing, Settlement and Messaging)

Understanding correspondent accounts and RMA

MT Messages and Miscellaneous Information

MT Category 1 messages - Customer Payments and Cheques with MT 103 Serial and Cover Methods

MT Category 2 - Financial Institution Transfers

MT Category 9 - Cash Management and Customer Status

SWIFT GPA Messages

Possible Duplicate Emission and Possible Duplicate Message and Message Retrieval

SWIFT GPI

SWIFT GPI (Global Payments Innovation)

ISO 20022 MX Messages

Why the need of ISO 20022 MX Messages

Three layers of MX Messages

MT to MX - the changes happening

Overview of PAIN (Payment Initiation) Messages

Overview of PACS (Payments Clearing and Settlement) Messages

Overview of CAMT (Cash Management) Messages

Who this course is for:
Aspirants of Payments Domain