Starting Nov. 2022, the interim period for the use of the new ISO 20022 Payment Messages will start till Nov. 2025 where all payments will be processed using the MX pacs.008 and pacs.009 and their related messages.
This course is designed to explain the reason behind changing the old MT103, MT202 & MT202 COV, as well as explaining the characteristics of the MXs that will be en sha ALLAH used.
.Explain the shortage of MT103 in meeting the wolfsberg payment transparency requirements.
.Explain the migration and the ISO 20022 characteristics
.Briefly explain the MX pacs.008
.The reason why the MT 103 & MT 202COV did not met the requirements of the “Wolfsberg Payment Transparency Standards”
.Timeline for the migration
.Migration from MT to MX
.Introduction to ISO 20022 standard
.Comparison between:
.1- Customer data structure using the ISO 20022 pacs 008 & the SWIFT MT 103
.2- Structured data Vs. Unstructured data within the PACS 008
.Brief explanation for the Pacs.008
.Back office operations.
.None
.Training attendance certificate.