International, Commercial & Secure Payment Methods
Course Info
Code IND12-113
Duration 5 Days
Format
Course Summary
Banking and finance is a world-wide industry that is constantly changing, particularly as new technologies are frequently emerging. As industry standards evolve, it is important for organisations to remain knowledgeable and continue to meet customer demands.
When it comes to international payments, it is necessary to understand the laws and regulations that overlook them. These regulations set the standard and organisations must manage their services to fall in line with them. The regulations also ensure that payment methods are completely secure and safe for the user.
Alongside the legalities, an organisation must also be aware of the various methods of payment and how to keep them secure. There must be a large focus on managing risk throughout every transaction to ensure security for all parties. Fraud is one of the main risks an organisation will encounter, making it crucial to have advanced fraud detection methods and solutions. Furthermore, other risks must be recognised, mitigated and minimised.
- To comprehend the vitality of securing international and secure payment methods.
- To analyse the legal and regulatory framework that govern international banking and payment systems.
- To consider the influences that strength the security of international and commercial payment transactions.
- To utilise effective methods of managing major and minor risks associated with payment systems.
- To evaluate past and present market trends and use this knowledge to predict future trends.
- To develop positive relationships with clients, partners and stakeholders.
- To examine emerging technologies and understand how to implement them with minimal disruption to existing services.
This course is designed for anyone within the finance organisation who wishes to develop their knowledge surrounding international payments. It would be most beneficial for:
- Banking Managers
- Finance Managers
- Finance Analyst
- Operations Managers
- Chief Payment Officers (CPOs)
- Compliance Officers
- Commercial and Private Banking Executives
- Senior Executives
This course uses a variety of adult learning styles to aid full understanding and comprehension. Participants will review case studies of established organisations that use a variety of payment systems to highlight key features and what security measures are in place.
They will be provided with all the necessary tools to fully complete the learning exercises. They will partake in various seminars, video materials, and practical activities. These will ensure the participants can develop an in-depth understanding of the taught content.
Course Content & Outline
- Understanding what international banking and commercial payments are.
- Examining international payment systems – SWIFT, CHIPS, Fedwire and TARGET2.
- Reviewing international trade financing – trade and supply chain finance.
- How banking has evolved from traditional payment methods to digital methods.
- The purpose of letters of credit (L/Cs) and standby L/Cs.
- Describing the purpose of the legal and regulatory framework for international banking and payments.
- The various international banking regulations – Basel III, FATCA and Dodd-Frank Act.
- The importance of anti-money laundering (AML) and counter-terrorist financing (CTF).
- Understanding the consequences of poor AML and CTF on the business and customer.
- Ensuring compliance through compliance management and governance.
- The most common types of international payment systems – cash in advance, letter of credit, documentary collection, open account terms and trade finance.
- Explaining the advantages and disadvantages of each payment type.
- Effectively managing international remittance.
- Modern technologies that heavily impacted payment methods.
- Mobile and e-commerce payment methods.
- Aligning traditional payment systems with digital systems.
- Identifying and measuring risks associated with payment transactions.
- Effectively detecting fraudulent transactions and securing the account.
- Ensuring the highest level of information security and cybersecurity.
- The importance of business continuity management when implementing risk management methods.
- Risk prevention, mitigation, disaster recovery and crisis management.
- Past, present and predicting future trends of international payments.
- Emerging technologies that increase security, efficiency and accessibility of payment systems.
- Blockchain and distributed ledger technology (DLT).
- How artificial intelligence and machine learning will impact the industry.
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