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 bed 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 equipped 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
Course Content
- 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
Speakers
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.
He has 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.
Darius is a strategy, commercial, and investments professional with 12+ years experience, in banking (Barclays Vice President) and FinTech organisations, as both an operator and investor. His core competencies include identifying strategic priorities, conducting market research on emerging trends, building relationships, sourcing and executing investments, strategic partnerships, managing due diligence processes, financial modelling and driving post- investment commercialisation. He is passionate about leveraging new technologies, and product design, to deliver innovative solutions to address market needs and trends, whilst generating value for stakeholders.
He has a global outlook, having lived in London, Singapore, France and Madrid. His commercial experience spans North American, EMEA and APAC markets.
First Class Honours degree in Economics from the University of Edinburgh. Applied Machine Learning at Columbia University.
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
