Course Description

The course Initiation to Cross-border Payments presents in detail the 4 key strategies to understand how cross-border payments work (Organization of market infrastructures, Account relationships and Correspondent Banking, SWIFT network and standards, Introduction to Foreign eXchange markets), as well as payments with serial and cover methods. It contains numerous examples with downloadable files in SWIFT MT and SWIFT MX formats.

The course contains over 130 quiz questions to help you review and master the content.

Course objectives

• Master the 4 key strategies to understand how cross-border payments work (Organization of market infrastructures, Account relationships and Correspondent Banking, The SWIFT network and standards, Introduction to foreign exchange markets)
• Understand the Modelling of cross-border Payments
• Become familiar with the SWIFT message standards used for cross-border payments
• Explain the contents of messages on customer transfers and between financial institutions
• Understand the differences between cover and serial payments
• Identify the structures of the most common MT and MX messages

Who can take this course?

This course is intended for professionals of the payment industry – Business analysts, Architects, Software developers, Functional/Non-functional testers, Treasurers, Project Managers … Anyone who begins with cross-border payments and wants to avoid the common pitfalls and misunderstandings, or anyone who wants to consolidate his knowledge of cross-border payments. 

Prerequisites

Unless you already mastered the fundamentals, we recommend you take our Payments Fundamentals course.