SPA-25 – 5-Day ISO20022 Deep Dive Course

 ISO20022 – All the Payments Data Your Business will Ever Need, all the Time

 5-Day ISO 20022 Standards Deep Dive

 Why are we talking about ISO20022 for merchants and corporates? 

By 2025, 90% of global bank large value settlements will be ISO20022 compliant, and most real time payments shortly thereafter.  The speed and conditions for payment settlement will increasingly be impacted by additional data that will accompany the payment. That additional data is being defined by global and national compliance regimes to meet not just payment integrity, but also environmental, social, trade, supply chain, sanctions, competition, social equity, treasury etc. standards.

ISO20022 is much more than a ‘data standard’ – it is an open data framework that supports multiple vertical specific compliance regimes. This positions ISIO20022 as a data tool for business system compliance across the ever increasing complexity of multiple compliance standards.  ISO20022 also supports multiple system architectures, including parallel processes, payor and/or payee integration, and a range of outsource models from data standard translation only, to full third party processing.

Your business systems have options – ISO20022 expands the definition of a payments transaction to include many types of additional business data, almost all of which is already captured through other systems by the front end of the payments ecosystem. Demands for compliance with this new world of expanded payments will increasingly shift to that front end. This challenge can be met by a wide range of system architectures contemplated by the ISO20022 framework.

Aim of this course

The aim of this program is to help the attendee make a decision as to the potential feasibility of implementing ISO20022 standards in the organization’s systems and processes, and therefore warrants an investment in further and more in depth  investigation  of the impact on those systems.

Learning Outcomes:

At the end of this program, delegates will be able to:

  • Describe the purpose and scope of ISO20022
  • Identify the drivers for a new global payments standard
  • Explain how the standard is managed
  • Identify the potential role of ISO20022 in addition to payments
  • Understand the new payment ecosystem under ISO20022
  • Specify how ISO20022 supports key payments functions
  • Advise on the potential of ISO20022 for business development
  • Describe the current market acceptance of ISO20022
  • Specify how ISO20022 supports legacy payments processes
  • Identify implications for the operation of an ISO20022 service
  • Understand how ISO20022 works with related standards
  • Identify where ISO20022 is positioning as a key technology
  • Specify the structure of the business data used by ISO20022
  • Define the mechanisms for adapting ISO20022
  • Enumerate potential killer apps for ISO20022
  • Evaluate the applicability of the ISO20022 data model
  • Identify verticals first to be impacted by ISO20022
  • Advise on where ISO20022 may be of greatest value
  • Understand risks in the adoption of ISO20022
  • Identify the market value of ISO20022 enabled services

Who Should Attend:

This course is specifically designed for organizations that must make a decision as to whether or not the organization should move forward in planning their payments ISO20022 capabilities. The key consideration in the design of this training program is ‘How organizations can monetize ISO20022’.

Program Details:

Day 1 – What is ISO20022 from a Business Perspective?

  • What is ISO20022 concepts from a Business Perspective?
  • An overarching transaction standard across verticals
  • A data model for extended transaction data
  • A mechanism for compliance under multiple regimes
  • Constraints in legacy payment transaction formats, e.g. ISO 8583
  • Increased demands on core payments processes
  • Changing business models for processing and settlement
  • Governance and control under ISO and SWIFT
  • Standards setting by internal and third parties
  • Implementation by regional and vertical organizations
  • ISO20022 and finance
  • ISO20022 and security
  • ISO20022 and ESG

Day 2 – What is ISO20022’s Role in Payments?

  • The payor / payee relationship under ISO20022
  • ISO20022 in the six party payments model
  • Overview of ISO20022 payment messaging
  • Generating requests for payment
  • Generating payments
  • Messaging between Payor and Payee
  • Automating certain payments processes
  • Supporting partner and client relationships
  • Helping organize business data across the enterprise
  • Global adoption and trends
  • Interbank settlement as the first use case
  • European, Asian & North American implementations

Day 3 – Key Processes

  • Generating and issuing a compliant ISO20022 message
  • Transporting the message
  • Receiving and processing the message
  • The 13 potential actors in an ISO20022 transaction
  • Integrated versus parallel messaging
  • Sandboxing, testing and certification requirements
  • XML, SWIFT MX, TWIST, OAGI, RosettaNet etc. inputs
  • SWIFT gpi, GMP, CBPR+, HVPS+, eBAM etc. best practices
  • Nexo, Berlin, SEPA, FpML, FIX, TARGET etc. applications
  • G20, FSB, FATF, ISITC, DTCC etc. global initiatives
  • TCH, NACHA, ANSI, Federal Reserve etc. in the U.S.
  • SEPA, EURO1, TARGET2, STEP2, STET etc. in the E.U.

Day 4 – Data Model Walkthrough

  • Top level Message types
  • Multiple levels of data elements under each Message
  • Per Message best practice guidance
  • The Supplementary Data message extensions to data dictionary
  • External Code Sets as approved by Standards Eval Group
  • Data Source Schemes industry specific data fields
  • Chargeback, loyalty, liquidity, contracts, trade, etc. apps
  • Next gen retail, securities, equities, B2B, POS transactions
  • Climate, ESG, risk, security, health care, stability support?
  • The need for ISO20022 planning tools for business
  • Strategic and product views of ISO20022 data fields
  • Walkthrough of an ISO20022 business data manager

Day 5 – ISO & SWIFT Targets

  • Cross border trade
  • High value payments
  • POS commoditization
  • Supply chain, analytics, treasury etc. back office functions
  • Straight thru, eInvoice, real time, securities etc. processing
  • Customer relationship, loyalty, fintech etc. front office
  • Bank driven adoption and marketing
  • Migration and translation from legacy to new transaction formats
  • Competition from card schemes, CIPS, blockchains etc.
  • What ISO20022 is selling vs. what the end user wants
  • Early adopters, sophisticated users, and the average Joe
  • The desire for less costs versus more services

Approach:

In delivering these training programs we aim for an immersive experience in which delegates can apply the information and skills gained during the course in their organizational contexts. The training program includes at least four hands-on exercises each day to provide delegates with the opportunity to reinforce their learnings and ensure that the learning outcomes are achieved.

Students will receive a course workbook and completion certificate at the conclusion of this course.

Credits:

SPA-25: 5-Day – ISO20022 Deep Dive Program is brought to you by VCS Technologies Inc. in partnership with the Secure Payments Academy and Technology Strategies International Inc.

For more information about our upcoming schedule, visit the Workshop Schedule.