ISO 20022 and SWIFT MX Messages
Course description
A practical 1 Day Course exploring ISO 20022 and the migration process to the SWIFT MX Messages and its impact on the financial sector.
LAST CHANCE TO SAVE UP TO £170 – REGISTER NOW!
For 40 years MT standard has enabled financial institutions to communicate effectively by providing industry automation and reducing the cost and risk of cross-border business which enabled the development of the correspondent banking system on which world trade depends. But the system is now being replaced by a new, more efficient ISO 20022 standard which offers unique ability to carry much richer data compared to older MT format.
The ISO 20022 MX standard offers many benefits from global standardisation, to improved data quality, increased operational efficiency and enhanced customer experience.
The change will affect financial institutions across the globe from funds, trade finance organisations, foreign exchange trading companies, credit card providers and corporations. With the looming deadline set for November 2025 the preparations for transition should put the be on every bank’s strategic initiative list.
Attend this 1 day practical course conducted by a senior market expert to fully understand the transition process and its implications for the sector and your daily workflow, and to prepare effectively for the upcoming changes.
What will you learn
By attending this 1 day ISO 20022 course you will:
- Get equip with an understanding of the SWIFT migration process and its impact
- Gain knowledge of the key features and benefits of ISO 20222 for the specific needs of trade finance, corporate finance, and asset management as well as other market players
- Identify potential impacts of ISO 20222 on your current workflows and processes
- Explore how ISO 20222 can improve efficiency and automation in payment processing
- Learn about the technical infrastructure for SWIFT migration from MT to ISO 20222
- Explore key considerations for mapping MT messages to corresponding ISO 20222 message types
- Understand the strategies for testing and validation of MX messages
- Learn about the regulatory and technical considerations
- Understand potential challenges and plan the next steps
_____________________________
You may want to combine this course with our 2 day:
- International Payments – course on 16-17 Oct & 11-12 Dec 2024 or
- International Securities Settlements – 14-16 Oct & 9-10 Dec 2024
Register for any 2 courses at the same time and save extra £100 (in total, not per course). *Only up to 2 discounts apply at any given time.
Main topics covered during this training
- The ISO 20222 standard: core concepts and structure
- The message formats: MT vs ISO 20022 MX Format
- Benefits of ISO 20222
- Overview of Message Mapping and Conversion
- SWIFT codes and message structure
- Impact on Specific Business Areas including Trade Finance, Corporate Finance / Correspondent Banking and Asset Management
- Worked examples: mapping sample MT messages to corresponding ISO 20222 messages
-
MT-to-MX conversion for correspondent banking and cross-border payments
- Technical considerations and system integrations
- Testing and validation strategies
- Identifying potential challenges and mitigation strategies
- Regulatory and jurisdictional considerations across US/Americas, EMEA and APAC
- Understanding potential challenges and planning the next steps
Who should attend
This workshop is designed for Banking and Financial Services teams managing payments infrastructures especially for trade finance, corporate finance, retail banking and asset management and anyone who wants to learn about the transition to ISO 20022 MX Standard.
Professionals from:
- Payments & Settlements
- Trade Finance
- Operational staff
- Global Transactional Banking
- Product managers
- Business Analysts
- IT and infrastructure experts
We also offer half day Advanced ISO 20022 programme for Technology and IT, Payment Infrastructure, Data Management experts involved and in charge of the transition process. Contact us to discuss your requirements.
ISO 20022 and SWIFT MX Messages - A 1 Day Course
Background and Introduction
- Setting the Stage: the evolving landscape of financial messaging
- Challenges of the legacy SWIFT MT standard
- The Rise of ISO 20222: a new era for payments
- SWIFT migration timeline and deadlines (November 2025)
Deep dive into ISO 20222
- The ISO 20222 standard: core concepts and structure
- Standardised Data Model (XML) for richer information exchange
- Message categories and specific message types for trade, corporate, and investment payments
- Benefits of ISO 20222
– Enhanced transparency and Straight-Through Processing (STP)
– Improved data quality and reduced errors
– Streamlined regulatory reporting (CBPR+)
– Potential for automation and efficiency gains
Impact on Specific Business Areas including Trade Finance, Corporate Finance, Correspondent Banking and Asset Management
- Mapping MT messages to corresponding ISO 20222 message types
- Streamlining documentary credit processing and payment flows
- Improved Visibility into Trade Transactions
- Efficient handling of high-volume corporate payments
- Enhanced remittance information and cash management visibility – example of international currency transfers
- Streamlined investment payments and settlement processes
- Improved transparency and reporting for asset managers and clients
Migration Overview and Scope
- Recap: SWIFT MT vs. ISO 20222
- Key differences in structure and messaging protocols
- Benefits and challenges of migration for banks
- SWIFT migration timeline and regulatory landscape
- Industry deadlines (November 2025) and regional variations – Euro Clearing, CHIPS, Fedwire etc.
- Regulatory requirements for ISO 20222 adoption (CBPR+ Guidelines)
Overview of Message Mapping and Conversion
- Mapping strategies for common MT messages used within banking operations (e.g., Trade Finance, Corporate Finance, Asset Management)
-
-
Customer Payments MX instructions
-
Financial Institution Payments MX instructions
-
Documentary Credits MX instructions
-
Banking and Payments Statements
-
- Worked examples: mapping sample MT messages to corresponding ISO 20222 messages
-
MT-to-MX conversion for correspondent banking and cross-border payments
-
Regulatory and jurisdictional considerations across US/Americas, EMEA and APAC
Technical Considerations and System Integrations
-
Impact of ISO 20222 on Messaging Infrastructure
- Data Quality Management and Validation for MX Messages
-
Security Considerations
Testing and Validation Strategies
-
Banking and Payments Infrastructures and Open Banking/PSD considerations
-
Utilizing SWIFT resources and tools for MX message validation
- Collaboration with internal and external stakeholders
Banking Infrastructure Migration Implementation and Next Steps
- Identifying potential challenges and mitigation strategies
- Key milestones and deliverables for a successful migration
-
Risk management and contingency planning
-
Financial infrastructure roadmap and horizon scanning
-
Global regulatory considerations
- Additional resources on ISO 20222 and SWIFT protocols
Trainer
The Course Director is an industry advisor and regulatory expert with over 20 years of experience in investment banking, asset management and Regulatory Technology (RegTech). He is an industry expert in Financial Regulation, RegTech, Open Banking, Digital Payments and Payments Systems and cover all the key banking and finance regulations across US, EMEA and APAC including MIFID II, EMIR, CASS, SFTR, IFR/IFD, Dodd Frank, FINMA (SIX), HKMA MAS and SFC, IBOR Transitions, SMCR, and ESG Regulations such as SFDR.
He has a deep expertise in analysing and implementing FinTech lending and asset management models, including Digital Banking and Digital Assets infrastructure (using Blockchain for central banking (CBDCs)) and is experienced in strategic regulatory Technology, Process and Platform management, particularly creating future state Open Banking APIs, Payment Platforms, RegTech Big Data platforms, and incorporating Risk and Governance policies
His recent key engagements include banks such as HSBC, Deutsche Bank, JP Morgan and Barclays and buy side firms such as T. Rowe Price, Ruffer, M&G and Investec Asset Management. He is also a member and advisor of Industry association committees for regulatory consultations with bodies such as ESMA, FCA, PRA/Bank of England and SEC.
FAQ
We offer banking and finance courses as well as soft skills and business management training. You can either attend an open public course in London or Dubai or arrange customised in-house training to be delivered in any of your offices worldwide.
Most of our public courses are run over 2 full days. Some programmes are offered as a 1 or 3 day training.
In-house training is tailored to client’s requirements and can be organised over 1 day, 2-3 weeks or longer.
Public courses are organised mainly in London and Dubai. Occasionally we organise courses in other centres like Paris or New York. Check our public course calendar for the current list of programmes. We use a range of training venues, all in the centre of the cities and with excellent transport links to the airports and train stations.
In London we use venues in the centre (near Oxford Circus station or in Mayfair) or in the City (near Liverpool Street or Moorgate stations).
In Dubai our courses are organised in one of 4-5* hotels in the Deira district. Once you register we will send you detailed information together with accommodation options if required.
Our in-house courses can be delivered anywhere in the world. We work with over 25 trainers worldwide. Contact us do discuss your requirements. Check our list of available programmes.
Our courses are run in central locations from 9 a.m until 5-5.30 p.m. There are 2 coffee breaks and a lunch break. Lunch is always provided in the venue.
Dress code is smart casual.
All our programmes are taught by senior specialists who have spent many years in their respective sectors, working as senior managers and head of departments, so they understand very well the market and the challenges you are facing.
The experience of our trainers allows us to create very practical programmes, focused on current market trends and challenges. You can be sure that you will gain the knowledge which can be instantly applied in your workplace after the course. You will be analysing real life case studies, take part in group exercises and discussions as well as role plays, whenever applicable.
We want our courses to be as practical and interactive as possible so we limit the number of participants in order to optimise your time with the trainer and allow you to ask questions which are important for you.
In order to understand your requirements and expectations, we will send you a pre-course questionnaire.
You will also receive post-course support so if you have any questions after you left the training, you are welcome to contact us.
There are 2 easy ways to register:
- Go to the course of your choice and click Register Now button to fill the registration page
- Email us to enquiry@eurekafinancial.com
After you register, we will send you registration confirmation and an invoice so you can arrange the payment. Please note that your place is not confirmed until we receive it.
If you register within Early Bird discount period, there’s limited time to arrange the payment in order to be eligible for the discount. You will find all the details on the invoice.
We don’t advise to make any travel and hotel arrangements until you receive full course confirmation from us.
We will send you venue and course details as soon as possible but most likely about 3-4 weeks prior to the course commencement.
You can pay by:
- Making a bank transfer
- Debit/credit card
- Cheque payable to Eureka Financial Ltd. - only within UK
Just mark preferred paying option on the registration form. Whichever form of payment you choose we will always send you an invoice.
If you pay by card, a 2.2% processing fee will be added. We will send you authorisation form so you can give us your card details.
Included in the price of a public course are:
- Course tutorial
- Take away course materials
- Course Certificate
- Lunch on the days of the training as well as drinks and snacks throughout the course
The price doesn’t include accommodation, flights, transfers and any additional costs outside of the training venue.
Yes, we always offer Early Bird discount, so the sooner you register the more savings you can make. We also offer group discounts and if you register for 2 or more programmes at the same time.
If you are a full time student or unemployed, we offer a 25% discount of the full price of the training. Student ID or unemployment status confirmation is required to claim this discount.
If you attend one of our courses you will be entitled to a special discount for a year after the last course you attend with us. Also, if you have attended and recommended us to a friend, both you and your friend will receive a special discount. You will receive more information about it after you attend the course.
See our Customer Loyalty Discounts page for more details.
All our courses based in the UK are subject to the VAT charge of 20%. This fee is irrespective of the country of residence of the delegates.
You can, however, claim the VAT back by contacting UK tax office - HMRC, and filling the relevant form, as long as you comply with the following rules:
For Delegates coming from the EU countries
If you represent a registered business in another EU country, you can use the Refund Scheme to reclaim VAT you pay in the UK as long as all of the following apply:
- You're not registered for VAT in the UK and don't have to, or can't be, registered here
- You don't have a place of business or a residence in the UK
- You don't make any supplies in the UK
You can find some more information here. In order to claim the VAT you have to fill Form 65.
For the Delegates from Non EU countries
If you represent a registered business in a non-EU country, you can use the Refund Scheme to reclaim VAT you pay in the UK as long as all of the following apply:
- You're not registered for VAT in the UK and don't have to, or can't be, registered here
- You don't have a place of business or a residence in the EU
- You can only use the Refund Scheme if your own country operates a similar scheme and makes it available to UK businesses. If your country has its own Refund Scheme but doesn't let UK businesses use it, you can't claim under the UK Refund Scheme.
- You don't make any supplies in the UK
If the following rules apply to you, please fill the 65A form and send it to HMRC.
Webinars
You can cancel your participation up to a month before the course and receive a refund minus 10% of the full course value. Between 2-4 weeks before the course you will be charged 50% cancellation fee and if you cancel less than 2 weeks before the course you can only offer your place to a colleague. Up to 2 weeks before the course you can reregister for another edition for 10% reregistration fee if there is another webinar offered or you can rebook for a course in London by paying the difference in price plus 10% reregistration fee.
Classroom Courses
If there is any official travel restriction or difficulty related to the COVID pandemic around the time of the course we will convert the training into a webinar or offer to attend the next classroom edition at no extra cost.
If you are unable to attend the course, you can either send a replacement at no extra charge or, up to 10 days before the training, you can transfer your booking to another edition within the next 6 months paying administrative fee of 20% of the full course price. For any cancellation requests received between 11 days and 4 weeks from the course we offer 50% refund or reregistration to another edition for 25% of the value of the booking. For any cancellation requests received more than 4 weeks before the course date we will offer a refund less an administration fee of 10% of the full course price.
Cancellations must be made in writing (letter or email) and reach our office four weeks prior to the course date. We regret that only limited refunds can be given after this period as per points above. Non-attendance without any notification will be charged at full rate. Your place on a course is not guaranteed until we receive the payment. All payments must be made in full before the course date.
All our trainers have been working for many years in their respective sectors before they begun to teach so they bring a wealth of practical experience to the classroom.
Most of them used to work for 15 or more years in the financial sector and corporate world, and were holding positions of Directors, VP and Senior Managers. Some of them have published books and have written articles for specialised magazines and newspapers including FT, The Independent, The Times etc. You can find detailed biography of each trainer on the page of the course you want to register for.
Yes, you will receive a Certificate of Attendance at the end of the course you attend.
If you have to apply for a Visa to attend a course in the UK, we will issue a letter to support your application. The letter will be issued only after the payment for the course has been made.
It is delegate’s responsibility to obtain a Visa and failure to do so will not make the participant exempt from the cancellation policy.
Anyone suspected of applying for a training course simply to gain a Visa letter will be reported to their embassy.
We will need the following information to issue an invitation letter:
- Full name as it appears on your passport
- Date of birth
- Passport number
- Passport issue date
- Passport expiry date
18 Oct 2024, Online / Virtual
Register by 22 Sep to save £170
Early bird price £925 + VAT
Regular price £1095 + VAT
10% discount for 3 people.
10 Dec 2024, London
Register by 30 Sep to save £170
Early bird price £925 + VAT
Regular price £1095 + VAT
10% discount for 3 people.
This topic can be arranged on in-house basis. If you have a group of 4 or more we can customise it and deliver in any location worldwide. Contact us to discuss your requirements