Finally, someone who can intelligently teach and explain all aspects of ISO 20022, taking us to a deeper understanding. Could you elaborate on the role of LEI’s and if we will see a. integration with cryptocurrencies within this evolving standard, especially in the context of the growing demand for instant payments?
I'm also working on a payment gateway and already have around 3 years of experience with ISO8583, but not with ISO20022. That's indeed pretty impressive how you explained the structure with such details. Hats off, sir!
Saurabh, thanks a heap for making this very disseminated and informative. I am a new subscriber to your channel and thought about asking a query. Pardon me if it sounds silly- couldn't wait to ask at the video trail 25:37, why does it require to create another logical entity called postal address, when you can add the same details in Party identification cluster which is just above - just for modelling purposes? Moreover, shouldn't the debtor party details, per se, your use case has to be "Netherlands bank" rather than "ACMENV" depicted in the diagram 26:19
ISO 20022 is a global financial messaging standard that provides a common language and syntax for financial messages, enabling interoperability and automated processing of financial transactions across different systems and networks. The adoption of ISO 20022 is expected to bring benefits such as enhanced interoperability, improved straight-through processing, increased efficiency, and better data quality. However, the migration to ISO 20022 is a complex process that requires significant investments in technology, training, and testing.
You did a great job explaining the subject, and I appreciate the effort you made to go into detail on this kind of subject. please share your LinkedIn profile
Thanks saurabh for informative session it was very clear and easy to understand. One request if possible can you please cover some case study with different scenarios
Hello, you explain very well the ISO20022 precedures, please tell me what is the point of Qnt in this ecosystem? Please tell me what is the point of XRP in this ecosystem? Thnx 🙏
The first step is to understand ISO 20022 and how to take advantage of its advantages; watch our videos to get a better understanding of this. If you are looking for the best investment and that is xlm and XRP , these are the major compliant coin that are certified!
@@nemohydro6969 XRP is a digital currency created by Ripple that is used to facilitate fast and low-cost cross-border payments. Its primary purpose is to provide an alternative to traditional payment methods, such as SWIFT, which can be slow, expensive, and complex. By using XRP, financial institutions can achieve faster settlement times and lower costs.
XRP is a digital currency that can help make cross-border payments more secure and transparent. Its decentralized nature and features like escrow, multisignature, and payment channels can reduce the risk of fraud and error in cross-border payments. Additionally, XRP's transparent ledger enables real-time tracking of funds, which can increase efficiency and reduce the risk of discrepancies. However, there are still challenges to be addressed in using XRP for cross-border payments, and its potential benefits depend on factors like adoption and competition from other digital currencies.
Actually I have one doubt .. so I understood that Swift MT messages are moving to Swift MX messages and the format is called iso200022 which u explained with business , logic and xml tags .. but I am not getting whn u say iso 8583 is legacy messgaed does that mean it is referrign to old MT messges or ISO 8583 are different set all togethr ..
Messages can be sent in various standards like ISO8583 , ISO15022 or ISO20022. Message type indicator or MTI , bitmap and data elements constitute a particular message type in ISO8583 MT series are SWIFT messaging standards for payments. SWIFT uses ISO15022 as well. SWIFT is the registration authority for ISO15022. In true sense , ISO20022 will replace ISO15022
He will understand it better this way ISO 8583 and MT messages are two different messaging formats used for financial transactions. ISO 8583 is a widely used messaging standard for electronic payment transactions, while MT messages are used in the SWIFT network for international financial transactions. ISO 8583 is considered a legacy messaging format because it has been used for many years, but it is still widely used and is considered reliable and secure for electronic payment transactions.
University have sent me the swift copy my refund on dated 13/01/2023 but till now my nominated account are unable to receive my payment. so please kindly till track my account details.where is my refund are stuck or delayed
And I don't meen that ignorantly .. but banks around the world won't be able to choose to opt out .. they would be shut out from the system & lose money hand over fist because of it. Sure it will take time for all platforms rlto switch over. But it's in their best interest financially to make the switch asap😊
Hi Pallavi , Thank you so much for joining the Channel. please and me a message on mail mentioned in the channel page or LinkedIn . We can catch up on Saturday if that works for you.
it is very informative session and thanks for creating and posting this video for everyone's benefit
Finally, someone who can intelligently teach and explain all aspects of ISO 20022, taking us to a deeper understanding. Could you elaborate on the role of LEI’s and if we will see a. integration with cryptocurrencies within this evolving standard, especially in the context of the growing demand for instant payments?
I'm also working on a payment gateway and already have around 3 years of experience with ISO8583, but not with ISO20022. That's indeed pretty impressive how you explained the structure with such details. Hats off, sir!
Thanks
Thank you 🙏🏽 your support means a lot !
Great information and nicely presented. Thanks
Excellent narrative. Wish you cover more topics.
Good video. Thanks for the Explanation about this topic. It helps to understand the topic.
great stuff. Well Done. Thank you !
Excellant.. that was actually a nice start of the protocol and a great explanation of pacs.008.
Thankyou for this - really helpful information and summary
Wonderful explanation ..!!!
Great contents and intro. Helps me a lot. Cheers.
Thank you so much sir , very helpful video.
Superb Video Thanks a lot
Great content, very educative and the explanation is very pedagogic. Many thanks, keep going.
Thanks for the information 👍🏼
Saurabh, thanks a heap for making this very disseminated and informative. I am a new subscriber to your channel and thought about asking a query. Pardon me if it sounds silly- couldn't wait to ask at the video trail 25:37, why does it require to create another logical entity called postal address, when you can add the same details in Party identification cluster which is just above - just for modelling purposes? Moreover, shouldn't the debtor party details, per se, your use case has to be "Netherlands bank" rather than "ACMENV" depicted in the diagram 26:19
Great video! Thank you so much from Kazakhstan =)
Hello, do you have any video on SEPA RTP payments and messages?
Appreciate this in depth on ISO 20022. 👍
ISO 20022 is a global financial messaging standard that provides a common language and syntax for financial messages, enabling interoperability and automated processing of financial transactions across different systems and networks. The adoption of ISO 20022 is expected to bring benefits such as enhanced interoperability, improved straight-through processing, increased efficiency, and better data quality. However, the migration to ISO 20022 is a complex process that requires significant investments in technology, training, and testing.
Useful video, Saurabh. Thanks!
one concern: How I can create dummy request & which tool can be used to test (like postman..) Please advise!. TIA.
Informative, Thanks Sir
You did a great job explaining the subject, and I appreciate the effort you made to go into detail on this kind of subject. please share your LinkedIn profile
Nice info
will xrp or xlm be used? seems like its not even needed.
Great video thanks a lot .Can I know what protocol is the MX used for transfer
Awesome! Very nicely explained Thanks!
Verymuch simplified and explained, Thanks a lot! 🙂
Thanks a ton....Saurabh...
Very informative. Thank you.
thank you
Thanks saurabh for informative session it was very clear and easy to understand. One request if possible can you please cover some case study with different scenarios
How is it different from ISO 8583?
Very different ! Structure wise
@@ezeefied is length issue only the constraint with ISO 8583?
Very informative 💪🏻🔥
The best explications 👍
Very useful
Great Content thanks.
Thank you Gosaye🙏🏽 . Good to hear from you after a while . Hope you are doing well 😊
I cnt understand the XML 3rd point.
XML is a language in which you can design a message or a data structure so that it can be transmitted further . This is one of the use cases though
Hello, you explain very well the ISO20022 precedures, please tell me what is the point of Qnt in this ecosystem? Please tell me what is the point of XRP in this ecosystem? Thnx 🙏
The first step is to understand ISO 20022 and how to take advantage of its advantages; watch our videos to get a better understanding of this. If you are looking for the best investment and that is xlm and XRP , these are the major compliant coin that are certified!
XRP has no place in ISO20022
@@nemohydro6969 XRP is a digital currency created by Ripple that is used to facilitate fast and low-cost cross-border payments. Its primary purpose is to provide an alternative to traditional payment methods, such as SWIFT, which can be slow, expensive, and complex. By using XRP, financial institutions can achieve faster settlement times and lower costs.
XRP is a digital currency that can help make cross-border payments more secure and transparent. Its decentralized nature and features like escrow, multisignature, and payment channels can reduce the risk of fraud and error in cross-border payments. Additionally, XRP's transparent ledger enables real-time tracking of funds, which can increase efficiency and reduce the risk of discrepancies. However, there are still challenges to be addressed in using XRP for cross-border payments, and its potential benefits depend on factors like adoption and competition from other digital currencies.
@@nemohydro6969dumb😂
Can We get an example of pacs008 message comparing with MT103
XRP XLM
HBAR ?
Is there any paid training for Swift message and ISO 20022
looking to publish more content and probably a course on that this year
Actually I have one doubt .. so I understood that Swift MT messages are moving to Swift MX messages and the format is called iso200022 which u explained with business , logic and xml tags .. but I am not getting whn u say iso 8583 is legacy messgaed does that mean it is referrign to old MT messges
or ISO 8583 are different set all togethr ..
Messages can be sent in various standards like ISO8583 , ISO15022 or ISO20022. Message type indicator or MTI , bitmap and data elements constitute a particular message type in ISO8583
MT series are SWIFT messaging standards for payments. SWIFT uses ISO15022 as well. SWIFT is the registration authority for ISO15022. In true sense , ISO20022 will replace ISO15022
He will understand it better this way
ISO 8583 and MT messages are two different messaging formats used for financial transactions. ISO 8583 is a widely used messaging standard for electronic payment transactions, while MT messages are used in the SWIFT network for international financial transactions. ISO 8583 is considered a legacy messaging format because it has been used for many years, but it is still widely used and is considered reliable and secure for electronic payment transactions.
😮 0:16
Hello,
How i can get CBPR plus certificate.
Thank you 👍
Thanks for video anyone here who is business analyst ?
University have sent me the swift copy my refund on dated 13/01/2023 but till now my nominated account are unable to receive my payment.
so please kindly till track my account details.where is my refund are stuck or delayed
What do you think caused this situation?
And I don't meen that ignorantly .. but banks around the world won't be able to choose to opt out .. they would be shut out from the system & lose money hand over fist because of it. Sure it will take time for all platforms rlto switch over. But it's in their best interest financially to make the switch asap😊
Hello Saurabh, GM. Would like to have connect with you on call? Can it be possible this week.
Hi Pallavi , Thank you so much for joining the Channel. please and me a message on mail mentioned in the channel page or LinkedIn . We can catch up on Saturday if that works for you.
Uml is unified modelling language 😂
Very slow sir.
sorry about that . Is that the delivery you found slow ? Try watching at 1.5 X speed
@@ezeefied 👍🤣
@@ezeefied 🤪