SWIFT MX Messages - Focus on CBPR+ Structured Data Elements

SWIFT MX Messages - Focus on CBPR+ Structured Data Elements free download

ISO 20022 Hybrid Postal Address | Structured Remittance | Regulatory Reporting | Purpose | LEI and a lot more

**Part 3 of 3 courses**

Structured data elements are the biggest upcoming requirements in the ISO 20022 CBPR+ SWIFT MX message migration.

Many of the payment systems are in the process of implementing structured data and some have already made these mandatory with deadlines announced.

This course will guide you through the intricacies of structured data in a simple, easy-to-follow and effective way.

You will get -

• CBPR+ Scope and Upcoming Changes

• Latest Deadlines of Messages

• Detailed understanding of -

  • Hybrid Postal Address

  • Structured Remittance Information

  • Regulatory Reporting

  • Purpose Code

  • Category Purpose Code

  • Legal Entity Identifier (LEI)

  • On-Behalf-of Elements

• Related Resources for more in-depth study

Who is this course for?

1. Business Analysts and Consultants of Payments Domain

2. Aspirants of Payments Domain

   
   

What this course covers?

CBPR+ Scope and Upcoming Changes

1. CBPR+: Current adoption status

2. CBPR+: Upcoming changes

3. Latest Scope and deadlines of messages migrating to ISO 20022

4. The key structured/ enhanced data elements

Implementation of Hybrid postal address

1. Postal address: Previous mandate by SWIFT

2. Challenges of having fully structured address as the only option

3. Postal Address - Urgent Regulatory Requirements

4. Hybrid Postal address: Structure and Rules

5. Hybrid Postal address: Implementation Timeline

6. Hybrid Postal address: Fields and Messages affected

7. Types of mapping schemes and relevant scenarios

8. Mapping Scheme 1 - Hybrid address MX to MT

9. Mapping Scheme 2- MX Hybrid to MX unstructured

10. Recap - Hybrid Postal address

Structured remittance Information

1. Why is it important?

2. Basic use of Structured Remittance information

3. Additional use of Structured Remittance Information

4. Recap - Structured Remittance Information

Regulatory Reporting

1. What is Regulatory Reporting and When is it used?

2. Structure of Regulatory Reporting

3. How to populate Regulatory Reporting?

4. Example 1 – Use of Regulatory Reporting on Debit side

5. Example 2 – Use of Regulatory Reporting on Credit side

6. Example 3 – Use of Multiple Regulatory Reportings together in both sides

Purpose of Payment

1. What is the Purpose code and how to populate it?

2. Example: Use of Purpose of Payment

3. Example: Use of Regulatory Reporting and Purpose together in same Payment

Category Purpose

1. What is Category Purpose and how to populate it?

2. Example: Use of Category Purpose

Recap: RgltryRptg, Purp and CtgyPurp - Similarities and Differences

Case Study: The coming future - How a fully structured pacs.008 will look like

LEI and its use in ISO 20022 messages

1. What is LEI?

2. LEI - Structure, Database and Importance in MX messages

Under the Lens - Usage of Ultimate Parties in MX Messages

1. Who are the ultimate parties and how to correctly identify one?

2. Practical scenarios involving ultimate parties

3. Implications of incorrect declaration of ultimate party

4. Take Corrective Actions - Know common Incorrect usages of ultimate parties

Under the Lens - Incorrect usages of MX messages identified so far

Quizzes

Additional Resources