Advanced Guide - ISO 20022 SWIFT MX Messages

**Part 2 of 3 courses**

UPDATE Nov 2025: Post Nov 2025 handling of messages and latest timelines of CBPR+ phase 1 and phase 2 messages

Are you someone who is searching for a reliable resource on ISO 20022 SWIFT MX messages?

Confused about where to begin learning? What to learn? From where to learn?

Then this course is your perfect match!!

You will get -

• Full understanding of CBPR+ usage guideline and message structure and elements

• Pacs.008, Pacs.009, Pacs.004, Pacs.002, Pain.001 and 002 message structures

• Learn creating MX messages - Assignments + Resources

• 100+ questions to get you ready for interview

• Essential background knowledge of XML to understand message schemas

• Learn how to handle data truncation during MT-MX coexistence

• Message examples of end to end payment chain

  
  

This course, the 'Advanced Guide - ISO 20022 SWIFT MX Messages', delves deeper into all the necessary concepts of SWIFT MX messages, starting from how the different working groups of SWIFT work and the inter-relations of the usage guidelines, how XML is used to build the ISO 20022 messages schema, how the important messages are structured - discussing element by element, and the logic behind each element's presence. It also provides real life message examples to understand the application of all that is learnt.

Who is this course for?

1. Business Analysts and Consultants of Payments Domain

2. Aspirants of Payments Domain

   
   

What this course covers?

ISO 20022 and SWIFT MX message catalogues | Usage Guidelines

1. ISO 20022 message catalogue Vs SWIFT MX message catalogue

2. Understanding SWIFT Payment Groups and different message guidelines

3. Latest Migration Timelines and Status

Post Nov 2025 - What happens after MT-MX coexistence?

1. The current deadlines of CBPR+ migration

2. Message translation services by Swift

3. Handling messages post November 2025

4. Other Related Migrations of Infrastructures

XML in ISO 20022 messages

1. Basic Structure of XML and Syntax Rules

2. XML Schema and Instance

3. XML Data Types

4. XML Attributes and Complex Elements

5. Restrictions and Indicators

6. Understanding the ISO 20022 XML Message Schema

7. Codes used in MX Messages

8. MX Message Validation

Important Concepts Related to MX Messages

1. Agents and Parties

2. Settlement Methods

3. Multiplicity of Elements in Messages

Structure and Elements of PACS.008 Message

1. Building Blocks - Group Header and the Credit Transfer Transaction Information

2. Understanding the Credit Transfer Transaction Information Block

3. Understanding the Group Header Block

Structure and Elements of PACS.009 Message

1. PACS.009 Core, PACS.009 COV and PACS.009 ADV

2. Building Blocks - Group Header and Credit Transfer Transaction Information

Structure of PACS.004 and PACS.002 Messages, PAIN.001 and PAIN.002 Messages

1. Difference between Reject and Return

2. PACS.004 and PACS.002 Structure

3. PAIN.001 and PAIN.002 Structure

Understanding MX Messages with Examples

1. PAIN.001 Message Example

2. PAIN.002 Message Example

3. Serial payment - First PACS.008

4. Serial Payment - Second PACS.008, PACS.002 and Third PACS.008

5. Serial Payment - Fourth PACS.008

More on Ultimate Parties and Incorrect usages of MX identified so far

1. Correct identification of Ultimate Parties

2. Practical scenarios involving Ultimate Parties

3. Implications of Incorrect Declaration of Ultimate Parties

4. Take corrective action - Incorrect usages of Ultimate Parties identified so far

5. Take corrective action - Incorrect usages of MX messages identified so far

Practice test and Message Mapping Assignments