SEPA Credit Transfer Curriculum

€1750

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How long does the training last?

2 days online or physical classroom for the whole curriculum. You can take each day according to your schedule.

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When is the next session?

Sessions are scheduled every 2 months. But you can request specific sessions for your teams.

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Book your session

The number of places is limited. Reservations are done on first come first served basis. Please check the availability first.

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Contact Info

350 Rue Lecourbe , Paris, France

+ 33 9 51 04 98 20

contact@paymerix.com

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SEPA Fundamentals

Understand the four corner Model of the SEPA Credit Transfer scheme and how the SCT clearing, settlement and market infrastructures work

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Master the SEPA Scheme Messages

Master the structures of the SEPA Credit Transfer scheme messages and explain the difference between the SEPA implementation guidelines and the ISO 20022 standard

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SEPA Credit Transfer Processing

Decompose and analyze the value chain of the SEPA Credit Transfer processing (Payment Acquisition and reporting, Payment Order management, Payment Exchange)

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Accounting Concepts

Grasp basic accounting concepts, get a presentation of the payment engines and the applications they are interfaced with in the bank’s IT System

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Who Can Take this Curriculum

Payments professionals (Business Analyst, Consultant, Project Manager, Architect, Quality Engineer) beginners or experienced who want to master the basics of payments and payments systems.
There is no prerequisite for this curriculum

About the SEPA Credit Transfer Curriculum

In this curriculum you will get all the tips to quickly understand domestic payments and the SEPA Credit Transfer. You will learn everything you need to know and that is not available in the SCT rulebooks and implementation guidelines. You will discover unique tips to get and stay on top of the SEPA Credit Transfer.

The SEPA Credit Transfer curriculum consists of two courses that take you step-by-step from the basic to the advanced concepts related to SCT payments. You get precious information and tips to provide a great contribution to any SCT payment project.

Curriculum Content

Course 1 – Understand and Master the SEPA Credit Transfer

The Understand and Master the SEPA Credit Transfer Course was designed for people who work in the payment industry or who want to understand how the SEPA Credit Transfer really works.

Module 1 – Introduction to SEPA and SEPA Payments

Definition of SEPA
The SEPA Geographical Area
What is a SEPA Payment Scheme?
The Four SEPA Payments Schemes
The main SEPA Payments Initiatives
The Payment Services Directive
The Payment Services Directive 1 and 2
The European Payments Council
The EPC scheme documents
SEPA Payments Schemes publications – The calendar and main milestones
The Payment Service Providers in SEPA
The generic Four Corner Model for all SEPA Payments
SCT and SCT Inst are push payments
SDD Core and SDD B2B are pull payments
SEPA payments rely on open international standards
Few statistics in different European countries
Assessment Quiz

Module 2 – The SCT scheme documents and the Four Corner Model

The Four Corner Model is at the basis of the SCT
The SCT scheme and the Four Corner Model
The SCT scheme rules are described in the EPC Rulebooks
The EPC documents for the SEPA Credit Transfer
- The Main documents
- Other interesting EPC documents for SCT implementation projects
- Other useful resources for the SCT Implementation projects
- An important tip for reading new versions of the main EPC documents
The Four Corners: What are they ?
End parties in the SCT Four Corner Model
The Payment Service Providers in SEPA
The PISP and the Four Corner Model
Assessment Quiz

Module 3 – Clearing, Settlement and Market infrastructures of the SCT

Clearing and settlement systems in the Four Corner Model
Clearing and Settlement – Definitions
Market infrastructures of the SEPA Credit Transfer
Separation of the scheme and the infrastructures – What does it mean?
SCT Scheme compliant clearing systems and their categories
Common characteristics of CSM
Interoperability of clearing systems
Interoperability at CSM level – What it implies
The two models of connections to CSM in the SEPA Area
Prioritization of clearing systems during the payment processing
Types of processing cycles in clearing systems
Participation Directory of a Clearing system
Interconnections of CSM
Assessment Quiz

Module 4 – The messages exchanged in SCT Scheme

The LIMF Method applied to payment schemes
The messages exchanged in the SCT Scheme are found in the Implementation guidelines
Overview of all messages listed in the SCT Implementations Guidelines
Overview of all messages listed in the SCT IG and Customer Reporting messages
SEPA Message names are inherited from the ISO 20022 standard
Structure and meaning of SEPA message names
Overview of all messages listed in the SCT IG and Customer Reporting messages
Messages in the Customer-to-bank space
- Customer to Bank Instruction and PSR messages (Pain.001 and Pain.002)
- Bank to Customer Reporting messages (Camt.052, Camt.053, Camt.054)
Messages in the Interbank space
- Pacs.008.001.02 (SCT), Pacs.002.001.03 (Rejet SCT), Pacs.004.001.02 (Return SCT), Camt.056.001.01 (Recall), Pacs.028.001.01 (Request for Status update), Camt.029.001.03 (Negative Response to Recall)
- Camt.027.001.06 (SCT Inquiry – Claim non-receipt), Camt.029.001.08 (Response to claim non-receipt), Camt.087.001.05 (SCT Inquiry – Claim for Value Date correction), Camt.029.001.08 (Response to Claim for Value Date correction)

Module 5 – Messages in the Customer-to-Bank space: the Standard ISO 20022 and SCT Implementations Guidelines

Introduction to the standard ISO 20022
Standard ISO 20022 and Payments
Syntax and semantics in the standard ISO 20022
ISO 20022 specifications and the SEPA Implementation Guidelines (IG)
Message elements available in the Standard ISO 20022 and their usage in SEPA
Comparison of SEPA IG and ISO 20022 specifications
Summary of differences between SEPA IG and ISO 20022 specifications
SEPA CORE Payments and Additional Optional Services (AOS)
Different types of Additional Optional Services (AOS)
Overview of all messages listed in the SCT IG and Customer Reporting messages
Deep dive into customer-to-bank messages used in the SCT Scheme

Pain.001.001.03 and Pain.002.001.03
Camt.052.001.02, Camt.053.001.02 and Camt.054.001.02

Assessment Quiz

Module 6 – Messages in the Interbank space: the Standard ISO 20022 and SCT Implementations Guidelines

- Reminder : the GAIM method to apprehend SEPA messages is very powerful
- Summary of differences between SEPA IG and ISO 20022 specifications
- Deep dive into messages used in the Interbank Space of the SCT Scheme
- Assessment Quiz

Module 7 – The main features of the SEPA Credit Transfer

Main features of the SEPA Credit Transfer
The SCT uses the IBAN as account identifier
The SCT uses the BIC as Bank identifier
The SCT allows only shared fees
The SCT is a non-urgent transfer
The SCT execution time is maximum one business day
The SCT allows amounts exclusively in EUR
The SCT can carry up to 140 characters unstructured or structured Remittance Information
The SCT can transport ultimate debtor and ultimate creditor Information
The SCT is independent of acquisition and clearing channels
Assessment Quiz

Module 8 – SCT Payment Processing value chain: Acquisition and Reporting

Payment processing value chain (from bank’s perspective)
Payment processing value chain – Inside the bank
Payment channels

Third Party Providers channels
File Transfer channels
File Transfer channels and the communication protocols

Security in file transfer channels – the main challenges
Security is achieved through the use of cryptography techniques
Asymmetric encryption mechanisms use pairs of keys
Asymmetric encryption mechanisms – how it works
Asymmetric mechanisms – combination of hash functions and keys
Asymmetric mechanisms – the reality (is a bit more complex)
Digital Certificate or public key certificate
Summary of encryption mechanisms
The EBICS Protocol
Encryption in the EBICS Protocol
EBICS Protocol – The summary
SWIFTNet and the SWIFTNet Protocols
Acquisition and Reporting agreements

Practical example to illustrate how it works
Typical requirements
Users and College of Signatories
Typical checks and outcomes

Assessment Quiz

Module 9 – SCT Payment Processing value chain: Order Management

Payment processing value chain (from bank’s perspective)
Payment processing value chain – Inside the bank
Payment order management – Introduction and generality
Payment order management for the SEPA Credit Transfer
Single-beneficiary and Multi-beneficiary payment orders
POM Payment processing steps
POM functions and services

Payment parsing and validation
IBAN validation and verification
BIC / IBAN coherence check
NAR validation and enrichment
Dates and the related controls
Dates – Processing time, Calendar and Business days
Dates – Open Business days
Duplicate checks

POM functions and services

Processing agreements

Service Execution speed
Service Requested execution date as Settlement date
Service Duplicate checks
Service Late modification
Service percentage of erroneous transactions
Service management of erroneous orders / operations
Service deferred cut-off
Service accounting methods for booking entries

Pending order management
Balance check
Routing and issuing

Assessment Quiz

Module 10 – SCT Payment Processing value chain: Payment exchange

Payment processing value chain (from bank’s perspective)
Payment processing value chain – Inside the bank
Payment Exchange Platform (PEP)
Payment exchange platform – A focal point
PEP functions and services
Sanctions screening
PEP and Routing directories
SEPA Routing Directory and other CSM directory
Participation directories versions
Payment Exchange Platform – Bulking and Debulking
Assessment Quiz

Course 2 – Secrets for your SEPA Credit Transfer Projects

The Secrets for your SEPA Credit Transfer projects Course was designed for people who deliver payment projects and want to become highly skilled payment professionals.

Module 1 – Booking and the SEPA Credit Transfer

Introduction to Booking
The double entry bookkeeping principle
and accounting events
Examples of accounting events to illustrate the double entry principle
Different types of bank accounts
Booking and non-booking transactions
Creditor bank pacs.008 (SCT) booking
Creditor bank pacs.004 (Return) booking
Creditor bank pacs.004 (Pos. response) booking – the amounts
Creditor bank pacs.004 (Positive response) booking
Debtor bank credit transfer pain.001 and pacs.008 booking – Order with one transaction
Debtor bank credit transfer pain.001 and pacs.008 booking – Order with ten transactions
Debtor bank pacs.004 (normal return) booking
Debtor bank pacs.004 (positive response) booking
Correspondent banking in domestic payments – Nostro, Vostro and Loro accounts
Correspondent banking in domestic payments – Nostro and Vostro accounts
Shadow and mirror accounts
Shadow and mirror accounts – Illustration with an account relationship between DP and IP
Real and Mirror accounts in end-to-end the processing of a SCT
Real and Mirror accounts in settlement between IP and DP
Reconciliation of real and mirror accounts
Example of reconciliation with single booking between IP and DP
Assessment Quiz

Module 2 - Account Balance Management

Challenges of Account balance management
- Challenge 1 of account balance management
- Challenge 2 of account balance management
Customer account balance management : the ideal and the reality for banks
Balance Management System (BMS)
Intraday balance and account balance
- Challenge 1 with a BMS system
- Challenge 2 with a BMS system
Introduction to merge accounts
- Balance Management for merge accounts – Payment initiation
- Balance Management for merge accounts – Payment reception
Assessment Quiz

Module 3 – Payment engines

Introduction to payment engines
Payment engines interact with many systems in the bank
Payment engines and Payment Services Hubs
Payment engines and the payment processing value chain
Finding the Payment engines in your projects

Example 1 of payment engines application architecture
Example 2 of payment engines application architecture
Example 3 of payment engines application architecture
Example 4 of payment engines application architecture

Options for Payment engines Implementation
Main actors of PE implementation projects
Few payment engines for SEPA Payment Processing
Assessment Quiz

Module 4 – Payment engines integration into the Bank IT landscape

Payment engines interact with many systems in the bank
Interfaces

Interfaces play a crucial role in payment processing
Synchronous messaging (or communication)
Asynchronous messaging (or communication)
2-way asynchronous communication
Challenges of asynchronous communication
Batch Mode
Transactional Mode

Surrounding systems of a payment engine (POM)
Authentication & rights
Channels
CSM and SWIFT Directories
Customer Referentials
Fraud detection
Surrounding systems of a payment engine (POM)

Accounting systems
Audit log or Audit Trail
Pricing & Billing
Archiving
Reporting
Data warehouse & Statistics
Monitoring
The Scheduler
Investigations

Surrounding systems of a payment engine (PEP)

Screening
Intrabank and Interbank Networks

Assessment Quiz

Module 5 – Payment engine and the Graphical User Interface

Introduction to Graphical User Interfaces
Navigation menu on the left of the page
Navigation menu on top of the page
Payment instruments and the GUI
Payment engines GUI – Naming and organizing the menu items
Payment capture – Key principles
SEPA Payment capture – Best practices
Payment information displayed on the GUI

Examples of pain.001 and pacs.008

Original transactions and related transactions (R-transactions)
Original transactions and R-transactions on the GUI
Reconciliation of R-transactions
Linking original and r-transactions on the GUI
The 3270 screens
Assessment Quiz

Module 6 - Payment engine User rights and actions

User actions – introduction
User rights, user roles and users – the overview
User rights and user roles
Role-Based Access Control (RBAC) and User roles
Illustration of user role and RBAC on menu items
The search and search criteria
Generic search steps
Tips and suggestions about search screens
The worklist items (WLI)
The worklist items should be pushed
The worklist items (WLI) should be exhaustive
Prioritization of worklist items
Messages on the worklist items
Messages on the worklist items – Clarity, training and documentation
Audit log or audit trail – Logging of actions
Settings and parameters
Assessment Quiz

Module 7 – State machine diagrams of payment entities

Introduction to State machine diagrams
Examples of State machine diagrams
The light bulb
The door
The entities of a payment message
Process flows of the payment entities
Message – State machine diagram
Order – State machine diagram
Transaction – State machine diagram
State diagrams and booking
Assessment Quiz

Module 8 - Scope of your SCT project

What is your SCT project about ?
SCT messages and your project
Which messages are in scope of your project?
Messages in the customer-to-bank space
The Originator bank interbank messages
The Beneficiary bank interbank messages
Messages exchanged with Clearing systems
Messages exchanged with EBA STEP2 (SCT Scheme)
The Payment processes – few key concepts
The rulebooks contain high-level processes
Typical processes in scope of an SCT project
The processes in your SCT project
The applications in scope of your project
The geographical scope
Internal and external customers
Assessment Quiz

Module 9 – Information system architectures

Why the architectural approach

The challenges
The objectives

The Architectural approach – What is it?
How the architectural plans relate to each other
The process architecture
The functional architecture
The functional architecture with sub-functional blocks
Functional architecture – a payment exchange platform
The Application architecture
Application architecture – data flows
Application architecture – Integration tools
The technical architecture
Technical architecture – Load balancing and high availability
Assessment Quiz

Trainers

Jean Paul | Paymerix co-founder

Yves Cardinal | Trainer at Paymerix

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