SWIFT for Banking Professionals

• Basic understanding of banking operations

Audience

• Banking professionals
• Finance officers

The Society for Worldwide Interbank Financial Telecommunication (SWIFT) is a global member-owned cooperative and the world’s leading provider of secure financial messaging services that enables financial institutions worldwide to send and receive information about financial transactions in a secure, standardized, and reliable environment.

This instructor-led, live training (online or onsite) is aimed at beginner-level banking professionals who wish to gain in-depth knowledge and skills in using the SWIFT network for handling international bank transfers.

By the end of this training, participants will be able to:

• Understand the SWIFT network and decode SWIFT codes.
• Navigate SWIFT messages and execute international transfers.
• Learn about the potential risks associated with international transfers and how to mitigate these risks.
• Explore advanced SWIFT services and understand how they improve the speed, transparency, and traceability of cross-border payments.

Format of the Course

• Interactive lecture and discussion.
• Lots of exercises and practice.
• Hands-on implementation in a live-lab environment.

Course Customization Options

• To request a customized training for this course, please contact us to arrange.

Introduction to SWIFT

• Overview of SWIFT
• Understanding the SWIFT network
• Decoding and usage of SWIFT codes
• The basics of SWIFT messages

The SWIFT Environment

• Setting up a SWIFT terminal
• SWIFT encryption, authentication, and compliance
• The user handbook and documentation

Executing SWIFT Transfers

• Preparing for a transfer
• Creating SWIFT messages
• Understanding charges, rates, and conversion in international transfers
• Handling errors and rejections

Compliance and Risk Management

• Anti-money laundering (AML) and Counter-terrorist financing (CTF) considerations
• The importance of know your customer (KYC) in SWIFT transfers
• Monitoring and reporting tools and best practices

Advanced SWIFT Operations

• Exploring additional SWIFT services
• Integration with internal banking systems
• Future trends in SWIFT

Summary and Next Steps