Introduction:
This course is designed to explain the ISO 20022 payment XML messages from the business point of view to the reconciliation dept, clarifying the use of the new camt.053 and camt.054 adjusted by the CBPR+ in reconciliation activities.
The interim period for the use of the new ISO 20022 Payment Messages started from 20 Mar. 2023 till Nov. 2025 where all payments will be processed using the MX pacs.008 and pacs.009 and their related messages.
Also all reconciliation will be taking place using the camt.053 & the camt.054This course is designed to explain the characteristics of the above-mentioned MXs that will be en sha ALLAH used by the reconciliation dept.
Objectives:
- Explain the migration and the ISO 20022 characteristics
- Explain the MX pacs.008
- Explain the MX pacs.009.COV
- Explain the camt.053
- Explain the camt.054.
Course Outline:
Basic knowledge
- The reasonfor replacing the old legacyswift payment messages by the iso 20022 XML messages
- Timeline for the migration
- Which activities will be migrating to ISO 20022
- Introduction to ISO 20022 standard
- Who put the rules of the technicalities “what to do”?
- Migration from MT to MX
- Explaining the pacs.008.001.08 and the pacs.009.001.08 COVmessages flow
- structure of ISO 20022 businessmessage (BAH)
- pacs.008 & pacs.009 group header elements
- pacs.008 CustomerCredit Transfer Transaction Information elements
- -pacs.009 Credit TransferTransaction Information elements.
Customer transfer using serial method
- pacs.008.001.08
Customer transfer using cover method
- Pacs.008.001.08
- Pacs.009.001.08 COV
Financial institution transfer
- transfer to its account, pacs.009.001.08 Financial institution transferpacs.009.001.08
Reconciliation
- Bank To Customer statement, Camt.053.001.08
- Bank To Customer Debit Credit Notification, Camt.054.001.08.