A Beginner'S Guide To Cross-Border Payments

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.

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