A comprehensive course covering all scenarios in which a Corporation uses SWIFT MT101/Pain001 message
I recollect my early days as a Business Analyst. I joined a consulting organisation as a fresh recruit after MBA and my first project dealt with Payments. As someone with no background around this domain, I had to rely heavily on my senior colleagues, had loads of questions, at times I would think that it’s a stupid question and end up not asking it. I had to google a lot of things and compile tons of unstructured information available on the internet so that I could apply it in my project. My initial few months were definitely a nightmare. I felt less confident going into client meetings and hardly contributed to the discussions. Of course over a period of time my knowledge grew and I got into the game.
What you’ll learn
- Understand MT101 based payments.
- Understand SWIFT MT101 message format.
- Understand different ways corporations use MT101 message.
- Understand SWIFT MT101 usage for multiple domestic payments.
- Swift MT101 Usage to pay from multiple debit accounts.
- SWIFT MT101 Usage to pay from a subsidiary account.
- SWIFT MT101 Usage by parent company to pay on behalf of subsidiaries.
- SWIFT MT101 Usage for funds repatriation.
Course Content
- Introduction –> 5 lectures • 6min.
- SWIFT MT101 –> 7 lectures • 10min.
- Usage among Corporations –> 7 lectures • 14min.
- Basic SWIFT MT101 with two domestic transactions –> 4 lectures • 10min.
- Swift MT101 Usage to pay from multiple debit accounts –> 4 lectures • 9min.
- SWIFT MT101 Usage to pay from a subsidiary account –> 3 lectures • 14min.
- SWIFT MT101 Usage by parent company to pay on behalf of subsidiaries –> 4 lectures • 17min.
- SWIFT MT101 Usage for funds repatriation –> 4 lectures • 13min.
- Pain.001 message (ISO20022/MX equivalent) –> 3 lectures • 10min.
- Course summary and conclusion –> 1 lecture • 3min.
- Practice Test –> 0 lectures • 0min.
Requirements
I recollect my early days as a Business Analyst. I joined a consulting organisation as a fresh recruit after MBA and my first project dealt with Payments. As someone with no background around this domain, I had to rely heavily on my senior colleagues, had loads of questions, at times I would think that it’s a stupid question and end up not asking it. I had to google a lot of things and compile tons of unstructured information available on the internet so that I could apply it in my project. My initial few months were definitely a nightmare. I felt less confident going into client meetings and hardly contributed to the discussions. Of course over a period of time my knowledge grew and I got into the game.
As I look back on those years, I wish there was a course I could do which would have made my life easier. Unfortunately there wasn’t. That is why today, after spending a considerable time in the Payments industry, I decided to create this course for anyone who is or was in a similar situation.
The SWIFT MT101 Request for Transfer is a payment initiation message used by corporations to send domestic and/or international payment instructions to their banks. This message type can be used in many ways and in various situations. You may find details around it scattered over the internet but my objective is to provide a single source of information which is compiled in an easy to understand and logical manner.
This course is not a quick pill to become an expert. That takes years of professional experience. However, this course will cover all the fundamentals and help you in applying them to any real time project scenarios.
What do I get with this course?
In this course, you will learn about:
- What is a SWIFT MT101message
- Structure of SWIFT MT101 message
- Network validated and Usage rules
- Typical usage by Corporations
- Usage to pay from Multiple Debit Accounts
- Usage to pay from a Subsidiary Account
- Usage by Parent company to pay on behalf of Subsidiaries
- Usage for Funds Repatriation
- Pain001 message (MX equivalent)
Who is this course for?
This course is designed for anyone who:
- is a fresher and joined a Payments team as a Consultant/BA/Product Owner or Project Manager
- wants to learn the usage by Corporates of MT101 message for payments
- wants to expand their domain knowledge
- is looking for better opportunities at work or outside
- is aspiring to gain professional credibility