SWIFT MX Messages - Focus on CBPR+ Structured Data Elements

ISO 20022 Hybrid Postal Address | Structured Remittance | Regulatory Reporting | Purpose | LEI and a lot more


What you'll learn
Understand the latest scope and deadlines of structured data elements and MX messages
Get updated with incorrect usages of MX messages identified so far and take corrective actions
Get clear concepts of Hybrid Postal Address, Structured Remittance Information, Regulatory Reporting and all other mandatory structured elements
Get additional resources for more in-depth study on SWIFT MT to MX migration

Requirements
Intermediate knowledge of SWIFT MT to MX migration

Description
**Part 3 of 3 courses**
Structured data elements are the biggest upcoming requirements in the ISO 20022 CBPR+ SWIFT MX message migration.
Many of the payment systems are in the process of implementing structured data and some have already made these mandatory with deadlines announced.
This course will guide you through the intricacies of structured data in a simple, easy-to-follow and effective way.
You will get -
CBPR+ Scope and Upcoming Changes
Latest Deadlines of Messages
Detailed understanding of -
Hybrid Postal Address
Structured Remittance Information
Regulatory Reporting
Purpose Code
Category Purpose Code
Legal Entity Identifier (LEI)
On-Behalf-of Elements
Related Resources for more in-depth study
Who is this course for?
Business Analysts and Consultants of Payments Domain
Aspirants of Payments Domain
What this course covers?
CBPR+ Scope and Upcoming Changes
CBPR+: Current adoption status
CBPR+: Upcoming changes
Latest Scope and deadlines of messages migrating to ISO 20022
The key structured/ enhanced data elements
Implementation of Hybrid postal address
Postal address: Previous mandate by SWIFT
Challenges of having fully structured address as the only option
Postal Address - Urgent Regulatory
Requirements
Hybrid Postal address: Structure and Rules
Hybrid Postal address: Implementation Timeline
Hybrid Postal address: Fields and Messages affected
Types of mapping schemes and relevant scenarios
Mapping Scheme 1 - Hybrid address MX to MT
Mapping Scheme 2- MX Hybrid to MX unstructured
Recap - Hybrid Postal address
Structured remittance Information
Why is it important?
Basic use of Structured Remittance information
Additional use of Structured Remittance Information
Recap - Structured Remittance Information
Regulatory Reporting
What is Regulatory Reporting and When is it used?
Structure of Regulatory Reporting
How to populate Regulatory Reporting?
Example 1 – Use of Regulatory Reporting on Debit side
Example 2 – Use of Regulatory Reporting on Credit side
Example 3 – Use of Multiple Regulatory Reportings together in both sides
Purpose of Payment
What is the Purpose code and how to populate it?
Example: Use of Purpose of Payment
Example: Use of Regulatory Reporting and Purpose together in same Payment
Category Purpose
What is Category Purpose and how to populate it?
Example: Use of Category Purpose
Recap: RgltryRptg, Purp and CtgyPurp - Similarities and Differences
Case Study: The coming future - How a fully structured pacs.008 will look like
LEI and its use in ISO 20022 messages
What is LEI?
LEI - Structure, Database and Importance in MX messages
Under the Lens - Usage of Ultimate Parties in MX Messages
Who are the ultimate parties and how to correctly identify one?
Practical scenarios involving ultimate parties
Implications of incorrect declaration of ultimate party
Take Corrective Actions - Know common Incorrect usages of ultimate parties
Under the Lens - Incorrect usages of MX messages identified so far
Quizzes
Additional Resources
Who this course is for:
Business Analysts and Consultants of Payments Domain
Aspirants of Payments Domain

More Info