The Swift Payment with Business Analyst Course

Understanding Modern Payment Systems: A Comprehensive Overview

Electronic vs. Non-Electronic Payments

Explore the fundamental differences between electronic payment methods and traditional non-electronic payment systems. This section covers a broad spectrum of payment types, setting the stage for a deeper dive into modern financial transactions.

The Payment System Journey & Fraud Validation

Gain insights into the intricate payment system journey, from initiation to completion. Learn about crucial fraud validation techniques employed to safeguard transactions and protect against financial crime. Understand the core objectives of a payment system, including clearing and settlement processes.

Non-Fast Electronic Payment Systems

Discover the mechanics of non-fast electronic payment systems like RTGS (Real Time Gross Settlement) and NEFT (National Electronic Funds Transfer). These systems are vital for larger value transactions and everyday fund transfers.

Fast Electronic Payment Systems

Delve into the world of fast electronic payment systems, including IMPS (Immediate Payment Service) and UPI (Unified Payments Interface). These platforms facilitate instant transactions, revolutionizing digital payments. We'll also cover an overview of online and bulk channel payment methods.

International Payments: SWIFT & Beyond

Navigate the complexities of international payments with a detailed look at SWIFT (Society for Worldwide Interbank Financial Telecommunication). Understand the functionality of SWIFT GPI (Global Payments Innovation), designed for faster, more transparent cross-border transactions. Learn about essential banking relationships like RMA (Remittance Advice) and Accounting.

Banking Relationships: A Deep Dive

Master key banking concepts including Nostro Account, Vostro Account, and Loro Account. Understand the role of Nostro Mirror Account in facilitating international trade and finance. Explore the different parties involved in international transactions: Originator Bank, Receiver Bank, Sender Correspondent, Receiver Correspondent, and Intermediary Bank. Learn about the importance of an Account With Institution.

Payment Communication & Standards

Decipher the significance of business identifier codes (BIC) and IBAN (International Bank Account Number). Understand ACK (Acknowledgement) and NACK (Negative Acknowledgement) notifications in payment processing. Explore the structure and function of Swift MT Messages, categorized into Category 1 (e.g., MT101, MT103, MT191, MT192, MT195) and Category 2 (e.g., MT201, MT202) and Category 9 (e.g., MT900, MT910, MT950, MT940, MT942). Learn about the MT to MX equivalent field and the ISO 20022 basic terms standard.

Payment Initiation & Clearing Processes

Understand Payment Initiation Messages (PAIN 001, PAIN 002) and Payment Clearing and Settlement Messages (PACS.002, PACS.004, PACS.008, PACS.009). Gain insights into Cash Management Messages (CAMT054, CAMT053, CAMT052, CAMT056, CAMT029).

Transaction Status & Exception Handling

Learn about various transaction status indicators and common exception scenarios. Cover exceptions such as: Request to Cancel/Request to Modify, Unable to Apply, Claim not-Receipt, Investigation: Resolution, Investigation: Notification of Case Assignment, Investigation: Duplicate/Request for duplicate, Investigation: Rejection, and Investigation: Case Status Request / Report. Also, understand Investigation: Debit Authorization Request/response.

Payment Rejects & Returns

Develop a strong understanding of payment rejects and returns, including the reasons behind them.

Payment Infrastructure & Architecture

Explore Payment Engines, Payment Hubs, and the distinction between STP (Straight-Through Processing) and Non-STP processes. Understand Host to Host Architecture and the overall payment flow.

Business Analyst Course (Add-ons)

This course includes valuable add-ons for aspiring Business Analysts, covering:

• BRD (Business Requirements Document), FRD (Functional Requirements Document), and SRD (System Requirements Document) preparation.
• Basic Agile Scrum Master concepts.
• Fundamental Testing Concepts and the SDLC (Software Development Life Cycle).
• Basic SQL theoretical concepts.