What you'll learn:
- Understand cross border payments
- Understand correspondent banking
- Understand how Payment system models work
- Understand SWIFT messages used in cross border payments
- Understand foreign exchange market
- Understand the serial and cover payment methods used in cross border payments
Irecollect my early days as a Business Analyst. Ijoined a consulting organisation as a fresh recruit after MBAand my first project dealt with Payments. As someone with no background around this domain, Ihad to rely heavily on my senior colleagues, had loads of questions, at times Iwould think that it's a stupid question and end up not asking it. Ihad to google a lot of things and compile the tons of unstructured information available on the internet so that I could apply it in my project. My initial few months were definitely a nightmare. Ifelt less confident going into client meetings and hardly contributed to the discussions. Of course over a period of time my knowledge grew and Igot into the game.
As Ilook back on those years, Iwish there was a course I could do which would have made my life easier. Unfortunately there wasn't. That is why today, after spending a considerable time in the Payments industry, I decided to create this course for anyone who is or was in a similar situation.
Cross border payments are as one of the most complex topics in payments industry. The reason for it is because it involves many countries and currencies. The transactions go through multiple systems in interbank networks, Banks and Corporations. When people teach Cross border payments, the tendency is to directly go through the SWIFT standards and start looking at message types like MT103 or MT202 that are used for cross-border payments.
My belief is that this is not the right approach. This is because many other crucial things must be understood initially. I had to struggle with cross border payments myself. But with the time I discover 4 key concepts that I think can help you to avoid the frustrations and the pains I went through. Once you have understood these principles and strategies, you will see that cross border payments are not as complex as you may think and you will be able to analyse many scenarios and cases that you will encounter in your projects with confidence. If not, at least ask the right set of questions.
This course will give you everything you need to kick start your journey in the world of payments.
This course is not a quick pill to become an expert. That takes years of professional experience. However, this course will cover all the fundamentals and help you in applying them to any real time project scenarios.
What do I get with this course?
In this course, you will learn about:
4 key concepts of cross border payments
SWIFTBICcode
SWIFTmessages and standards
Deep dive into MT103
Serial and Cover payments flow with real SWIFTmessages examples
Who is this course for?
This course is designed for anyone who:
is a fresher and joined a Payments team as a Consultant/BA/Product Owner or Project Manager
wants to learn the basics of cross border payments
wants to expand their domain knowledge
is looking for better opportunities at work or outside
is aspiring to gain professional credibility
No prior knowledge of Payments is needed for this course.
