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The compliance impacts of ISO 20022: the new standard in payments

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The market infrastructure that supports cross-border payments has scarcely changed since 1977, when SWIFT launched a messaging service with standardized codes and instructions for payment communications between members. Following the lead of 21st Century disruptors such as AliPay and WeChatPay, uninhibited by legacy systems, comes ISO 20022, a multi-part International Standard prepared by ISO Technical Committee TC68 Financial Services.

ISO 20022 moves beyond the old tools — proprietary messaging formats, protocols, and standards developed decades ago based on local laws and the available technology — that weren’t designed for global interoperability. Instead, it describes a common platform for the development of messages for cross-border payments, setting a flexible infrastructure that facilitates information exchange and helps to harmonize the payments language between old and new technologies. Its focus is on getting the global financial community on the same page and removing the barriers that complicate compliance.

Objective:

 

Niveau Advanced
Type opleiding Klassikale opleiding

Totale prijs *

Leden: € 300
Niet-leden: € 330
Partner BZB: € 300
Incompany: op maat, prijzen op aanvraag

* Heb je recht op subsidies?
* Prijs: prestatie in het kader van permanente beroepsopleiding, vrijgesteld van BTW

Punten

  • Bank: 3 p/u
  • Compliance: 3 p/u

Geregelde bijscholing

Examen/Bijscholing 600.013

Beschikbare data

13/09/2022 - 13:30u - 17:00u - The compliance impacts of ISO 20022: the new standard in payments

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Doelgroep

The training course can be followed by various target groups which are active within a financial institution:

  • Payment officers
  • Risk managers
  • Procurement
  • Compliance staff
  • Internal auditors
  • Employees of the legal department

Vereiste voorkennis

Advanced level: offers practical applications to the already acquired theoretical knowledge of the "basic level" courses (deepening).

Additional prior knowledge required:

To experience the most impact of this course, it is best that you have acquired a certain basic knowledge/notion of payments during your career.

Preparation of participants: /

Programma

CONTENT:

  • What is ISO 20022 messaging and how does it affect financial institutions
  • Impact on TARGET 2 Consolidation
  • Cross-border payments and reporting (CBPR+) and migration
  • Compliance implications of structured information
  • Compliance implications for new fields (ultimate debtor, creditor, initiating party)
  • Introduction to SWIFT Transaction Manager & compliance implications.
  • Impact on EPC rulebooks

PRACTICAL INFORMATION:

Duration: ½ day training

Hours: 13h30-17pm

Address: Febelfin Academy, Phoenix Building - Koning Albert II-laan/Boulevard du Roi Albert II 19 1210 Brussels

Methodologie

You follow a ‘Classroom training’ in a group. You, the other participants and the teacher are all present in the same classroom at an agreed time. There is an opportunity for interaction and feedback, both from the participants to the teacher and vice versa. The teaching material consists as a basis of a presentation via the MyFA learning platform, supplemented with various other items (such as digital syllabus, presentation, audiovisual fragments, etc.).



Type of course: Classroom

During our theoretical training courses we offer a combination of theory and practical exercises. The cases, examples and exercises are taken from everyday situations or are contributed by you and then solved under the guidance of the trainer.

Training material: PowerPoint presentation

 

 

Docenten

KJELD HERREMAN
Clearing, settlements & payments