ISO 20022 Explained: Financial Messaging & Payment Standards
Understand ISO 20022 and financial messaging standards used in modern payment systems. Learn how message formats work, how banks exchange transaction data, and how message mapping enables interoperability.
6 Modules
ISO 20022 & SWIFT
6 Modules
Comprehensive coverage
Practical Exercises
Real message mapping
Certificate
Available upon request
Community Access
Join expert learners
What You'll Learn
Master the fundamental concepts covered in this course
Understand the importance of financial messaging in payments
Learn differences between syntax and semantic in messaging standards
Explore ISO 20022 and the three-layered approach
Map IBANs and BICs for international interoperability
Interpret SWIFT MT messages and ISO 20022 message flows
Analyze the end-to-end payment chain
Course Curriculum
6 comprehensive modules covering the fundamentals of financial messaging
Importance of Financial Messaging
- Cornerstone of the payments industry
- Sending and receiving messages to process transactions efficiently
- Reducing operational and infrastructure costs while improving service levels
Standards: Syntax vs. Semantic
- Syntax: the format and structure of messages
- Semantic: the meaning and "vocabulary" of messages
- Example: debtor vs. creditor in credit transfers and direct debits
ISO 20022 & Three-Layered Approach
- Business Model Layer: business flows, requirements, components
- Logical Model Layer: hierarchical structure of message components
- Syntax Layer: physical representation using XML
- Reuse of message components across multiple financial messages
Mapping Messages
- ISO 20022 Payment Instructions (Pacs.008.001.02)
- SWIFT MT103 messages
- Practical exercises mapping ISO 20022 to MT103 messages
International Bank Account Numbers (IBANs)
- Standardized, globally recognized format for identifying bank accounts
- Structure: country code, check digits, BBAN (Basic Bank Account Number)
- Ensures error-free cross-border payments and enables Straight Through Processing (STP)
Business Identifier Codes (BICs)
- ISO standard for identifying financial institutions
- Structure: institution code, country code, location code, branch code
- Essential for automated processing and interoperability
Meet Your Instructor
Milko Filipov
Payments Expert | 12+ Years Experience
Milko Filipov is an experienced professional in payment systems, card payments, and digital banking, with strong expertise in emerging technologies, cryptocurrencies, and decentralized applications, agentic commerce and agentic payments. He has supported major global projects for organizations including NTT DATA, Siemens, BMW, Commerzbank, Atruvia, Capgemini, Bosch, BNP Paribas, Stripe, EPI, and Visa.
Milko holds an MBA in Finance and Strategic Management from the Katz Graduate School of Business at the University of Pittsburgh and is committed to helping financial and technology professionals deepen their understanding of the payments industry to drive better, more innovative banking solutions.
Requirements
- Understanding of payment systems recommended
- Familiarity with banking operations helpful
- Interest in technical payment infrastructure
Who This Course Is For
- Payment operations specialists
- Banking and treasury professionals
- Technical analysts and system integrators
- Compliance and regulatory professionals
Ready to Master Financial Messaging?
Join 2,100+ professionals who understand ISO 20022 and SWIFT messaging standards
Certificate included
Continue your learning journey
Payments 101: How Payment Systems Work →Start from the fundamentals and build a complete understanding of how payment systems work