Training on Payment (System SWIFT) Course

COURSE OVERVIEW

Introduction

Bank transfer is defined as the means by which funds are transferred electronically from one person or institution to other persons or institutions. Bank transfers can be made by bank to another account through the cash transfer office from one person to another, Bank transfers are often the most appropriate for transferring money from bank accounts.

The transfer is made when the person wishing to transfer money approaches a bank and gives the bank a request to transfer the specified amount of money. The bank account number is given to the bank, The bank also sends a message via a secure system to the receiving bank, and requests activation of funds transfer in accordance with the instructions given.

Steady Development Centre offers Swift Banking Transfer Course, to those who want to acquire great skills in working in financial markets, and gain experience in the management of Banks and trust Companies.

Target participants

The course is suitable for officers from central banks dealing with payment clearing and settlement issues, Officers from Banking Department and Financial Markets

What you will learn

By the end of this training, you should be able to:

To provide participants with an understanding ISO 20022 compliance and implementation, and swift upgrade and the adoption of ISO 20022 for cross-border payments and reporting. Expose participants to the critical roles of Payments and Settlement System (PSS) in safeguarding monetary and financial operations of large value and retail PSS and identify risks in PSS. To enhance participants’ knowledge on identifying and mitigating risks in PSS. To expose participants to the role of central banks on PSS oversight.

Course Duration

•  10 days

Day 1:

• Introduction/Overview Payment Systems
• Core Principles of security settlement systems
• The regulatory framework for National Payment System
• General Financial Institution Transfer

Day 2:

• Interconnection in retail payment systems
• Clearing and settlement principles
• Payment standards and security
• Payment Systems and AML
• Single customer Credit Transfer

Day 3:

• M- Banking and Payment Systems
• Key issues with mobile payments
• Principles of Financial Markets infrastructure
• Free Format Message

Day 4:

• Understanding the demand-side for payment services
• Interchange and its effect on a national payment system
• Real Time Gross Settlement System- RTGS
• Risks in Payment Systems
• Financial Markets Direct Debit

Day 5:

• Introduction to ISO 20022 and MX,
• ISO 20022 Adoption for Cross-border Payments and Reporting Plus (CBPR+)
• SWIFT operations
• Financial Institution Transfer Execution

Day 6:

• New Dive into Cross-border Payments and Reporting Plus (CBPR+) message flows.
• Cross-border Payments and Reporting Plus on SWIFT network
• PAC 003 and PAC 008
• Net settlement Instruction Message
• Return Payment

 Day 7:

• MT/MX translation information
• The concept of bank transfers.
• The emergence of bank transfers.
• The importance of remittances in the work of companies.
• The concept of Swift messages and methods of dealing with them.

Day 8:

• Accounting principles.
• Basic accounting terminology.
• Recording of financial transactions.
• Double constraint theory.
• Anti-budget concept.
• Important rules related to accounts.

Day 9:

• SWIFT MT messages-Understanding fields flows with examples
• SWIFT GPI and other latest releases by swift
• SWIFT ISO 20022MX
• SWIFT Payment groups and migration timelines

Day 10:

• Agent and party roles in SWIFT MX
• Understanding PACS OO8 and MX Mapping
• Practice Test
• Advanced Guide to SWIFT ISO 20022 Messages
• Recap
• Closure and issuance of certificates

Training Approach

This course is delivered by our seasoned trainers who have vast experience as expert professionals in the respective fields of practice. The course is taught through a mix of practical activities, presentation, group works and case studies.

Training notes and additional reference materials are provided to the participants

Certification

Upon successful completion of this training, participants will be issued with Steady Development Centre certificate.

Training Venue

The training will be held at Steady Development Centre. The course fee covers the course tuition, training materials, two break refreshments and lunch.

All participants will additionally cater for their, travel expenses, visa application, insurance, and other personal expenses.

Accommodation and Airport Pickup

Accommodation and airport pickup are arranged upon request. For reservations contact the training officer.

• Email:training@steadydevelopmentcentre.com
• Mobile: +254 718108851

Tailor- Made

This training can also be customized to suit the needs of your institution upon request. You can have it delivered in our Steady Development Centre or at a convenient location.

Payment

The course fee payment should be transferred to Steady Development Centre account through bank, 3 working days before commencement of the training so as to enable us to prepare better.

For further inquiries, please contact us on:

• Tel: +254 718108851
• Email: training@steadydevelopmentcentre.com

Our Upcoming Training Schedule