Understand the Complete Payment Journey

Follow a real payment from customer instruction through validation, routing, messaging, correspondent banking, FX conversion, settlement, exceptions, and reconciliation. You'll see how each stage connects and why it matters.

Learn Banking Logic, Not System Screens

This vendor-neutral approach focuses on the principles and processes that work across any payment system. You'll understand the 'why' behind payment decisions, making you adaptable to any platform or technology.

Master Key Payment Concepts That Matter

ISO 20022, correspondent banking, clearing and settlement, sanctions controls, straight-through processing, and reconciliation. You'll know what these terms mean and how they work in practice.

About the Course

If you work in banking, payments operations, business analysis, testing, consulting, or implementation, you know that payments are the backbone of modern finance. But do you truly understand how they work? This course changes that. Rather than memorizing system screens or vendor-specific workflows, you'll learn the complete payment lifecycle and the banking logic that drives every decision. You'll follow a real payment journey: starting with a customer instruction, moving through validation and routing, exploring messaging standards like ISO 20022, navigating correspondent banking and foreign exchange, and finally reaching settlement. Along the way, you'll master key concepts like straight-through processing, exception handling, reconciliation, sanctions controls, and the critical difference between message journeys and actual fund movements. Whether you're troubleshooting payment failures, implementing new systems, or simply want to deepen your expertise, this practical, vendor-neutral approach gives you the knowledge to understand any payment scenario—not just the ones your current system handles. Ready to become the payment expert your team needs? Enroll today and transform how you understand payments.

Who This Course Is For

This course is built for professionals who work with payments every day: banking professionals managing payment operations, payment operations staff handling transactions and exceptions, business analysts designing payment solutions, testers validating payment scenarios, consultants advising on payment implementations, implementation teams deploying payment systems, and technology professionals building payment infrastructure. If you want to move beyond surface-level knowledge and truly understand how payments work—so you can make better decisions, solve problems faster, and communicate more effectively with your team—this course is for you. Whether you're new to payments or looking to deepen your expertise, this practical approach will give you the confidence and knowledge to handle any payment scenario.

What You'll Learn

14 Chapters · 70 Lessons

    1. 1.1 Introduction What Is a Payment_ Really Free preview
    2. 1.2 The Payment Lifecycle Free preview
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      1.3 Parties to a Payment

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      1.4 One Payment_ Many Possible Chains

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      2.1_Emma Creates the Payment Instruction

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      2.2_Customer_Authentication

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      2.3_Payment_Validation

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      2.4_Compliance_and_Fraud_Controls

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      2.5_Dates_Charges_and_Cut_Offs

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      3.1 Why Routing Is Required

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      3.2 Direct Bank Relationship

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      3.3 Routing Through an Intermediary

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      3.4 Multiple Intermediaries

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      3.5 Routing Emma’s EUR 5_000

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      4.1 Why Banks Need Payment Messages

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      4.2 SWIFT in Simple Language

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      4.3 ISO 20022 Payment Message

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      4.4 Parties Within the Message

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      4.5 Traditional MT Payment Message

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      4.6 Payment Identification and Tracking

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      5.1 Why Correspondent Banking Exists

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      5.2 Nostro and Vostro Accounts

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      5.3 Correspondent Relationship

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      5.4 Intermediary Banks

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      5.5 Reimbursing Bank Reimbursing Agent

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      6.1 Why FX Is Required

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      6.2 Option A Debtor Agent Converts EUR to USD

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      6.3 Option B Creditor Agent Converts EUR to USD

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      6.4 Comparing the Two FX Options

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      6.5 Other Possible FX Points

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      6.6 Instructed Amount_ Settlement Amount and Credited Amount

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      7.1 What Is Clearing

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      7.2 What Is Settlement

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      7.3 Gross and Net Settlement

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      7.4 Correspondent Settlement

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      7.5 Message Movement versus Money Movement

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      8.1 Serial Payment

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      8.2 Cover Payment

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      8.3 MT and ISO 20022 View

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      8.4 Serial versus Cover Payments

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      9.1 Payment Receipt

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      9.2 Beneficiary Validation

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      9.3 FX at the Creditor Agent

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      9.4 Beneficiary Credit

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      10.1 Why Payments Fail or Stop

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      10.2 Reject_ Repair and Return

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      10.3 Payment Investigations

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      10.4 Where Is My Payment

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      11.1 Why Reconciliation Is Needed

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      11.2 Nostro Reconciliation

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      11.3 Unreconciled Transactions When Expected and Actual Do Not Match

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      11.4 When Is the Payment Really Finished

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      12.1 Direct Bank-to-Bank Route

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      12.2 Routing Through One Intermediary

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      12.3 Multiple Correspondents Multiple Intermediaries

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      12.4 Debtor Agent FX Route

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      12.5 Creditor Agent FX Route

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      12.6 Serial Payment Route

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      12.7 Cover Payment Route

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      12.8 Payment With an Exception

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      13.1 Instant Payments

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      13.2 ISO 20022 and Richer Payment Data

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      13.3 APIs and Modern Payment Initiation

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      13.4 Emerging Settlement Models

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      14.1 What Happens When Emma Presses Send

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      14.2 What You Hear in a Payments Department

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      14.3 Final Payment Case Study

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      14.4 BIC_ RMA and Message Sending Controls

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      14.5 Final Assessment

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      14.6 Course Wrap-Up You Can Now Read a Payment

Ready to Master Payment Fundamentals?

Stop wondering how payments work. Get the practical, vendor-neutral knowledge that will make you confident in any payment scenario—from troubleshooting exceptions to implementing new systems.

$6.99

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