Payments Interview Preparation

Payments Interview Preparation – A Quick Guide Let us assume that you have a few days to prepare for an interview where payments is one of the mandatory requirements. This is a quick guide on how to prepare for the interview and how to crack it successfully. Here, the assumption here is that you worked in the payments domain in...

SWIFT MT103

SWIFT MT – MT103 Here is a very detailed session on SWIFT MT103

Polish Banking and Payment Systems

Polish Banking and Payment Systems – By Ramachandran Seetharaman Introduction Poland as a country is in the news for the right and wrong reasons. In being right, Poland is the only country in the EU to have accepted the maximum number of refugees from Ukraine. The crisis has also put Poland in the spotlight for the wrong reasons as its...

SWIFT MT101

SWIFT MT101 The start of the MT series is the MT101. If there was a course MTs 101 then they might very well start it with MT101 (Pun intended). MT101 is called a Request for Transfer message. It is a message that is used by corporates and banks (on behalf of their customers) to initiate a customer credit transfer. In...

Payments Quiz – Basics 2

Payments Quiz – Basic 2 Here is a short quiz to test your payments knowledge. There are a total of 15 questions and you have 15 mins to answer the same. Please share the result on LinkedIn and encourage others to take the quiz.

Domestic Payment Schemes in the UK – Part 3

Domestic Payment Schemes in the UK – By Pradyumna Acharya Let’s now take a quick look at the three payment schemes: BACS, CHAPS, and FPS.  BACS  Bacs is the bulk system for high volume, regular retail payments  What it is and what it does  Bacs is the UK’s bulk payment system  It is used for credit transfers and Direct Debits  The...

Domestic Payment Schemes in the UK – Part 2

Domestic Payment Schemes in the UK – By Pradyumna Acharya Can we achieve both Settlement Finality and Zero Counterparty Risk?  This is where the final piece of the jigsaw fits in. None of the approaches we’ve outlined so far are acceptable for situations when you need to be sure the payment will be made quickly and can’t be reversed, even...

Payments Quiz – Basics 1

Payments Quiz – Basic 1 Here is a short quiz to test your payments knowledge. There are a total of 15 questions and you have 15 mins to answer the same. Please share the result on LinkedIn and encourage others to take the quiz.

Domestic Payment Schemes in the UK – Part 1

Domestic Payment Schemes in the UK – By Pradyumna Acharya  Every day in the UK, millions of pounds are moved between bank accounts. This complex ecosystem is dominated by three main domestic payment systems – BACS, CHAPS, and Faster Payments – which are used by individuals and businesses alike to electronically transfer money ranging from a few pence to millions...

SWIFT MT – Serial and Cover Method

SWIFT MT – Serial and Cover Method This is one of the most important articles from SWIFT payments’ perspective and it is critical that you fully understand the concepts laid out here. Payments are cleared and settled via 2 primary methods: Through a payment market infrastructure (PMI) Through correspondent banking Through payment market infrastructure: This is the case where bank...