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October 5 - 6
Richmond, VA
Hyatt Place Richmond Airport
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October 7 - 8
Miami, FL
Embassy Suites - Miami Airport
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Register now! Space is limited, and price increases September 7!
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Principles of International Payments provides an overview of the global payments industry that enables you to develop your international payments offerings to grow your bottom line. The program is designed to provide you with the building blocks for understanding the basics of international payments and developing a business case for offering these services to your customers.
Why Attend?
Hosted by EastPay in cooperation with NACHA, the Retail Payments Office of the Federal Reserve System, and SWIFT, this program provides a unique opportunity to:
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Gain an awareness of the role international payments can play in expanding your business.
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Apply the knowledge you receive to build a business case for increasing your organization's role in the global marketplace.
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Hear from and network with industry experts in global payments solutions.
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Acquire practical tools and obtain resources that enable you to apply your newly-gained knowledge to your own real-world scenarios.
Who Should Attend?
The Principles of International Payments program is crafted for forward-thinking payments professionals, and innovators who realize the value of expanding their knowledge base while providing a firm foundation for advancing their organization's business into the global payments arena.
Continuing Education Credits
Up to 9.6 AAP continuing education credits may be earned for your attendance at the Principles of International Payments. For your copy of the Guidelines, refer to NACHA's website.
What is covered?
This two-day program covers the gamut of international payments concepts, processes, risks, legal issues, and program offerings, delivered by international payment systems experts from the hosting organizations.
Topics covered include:
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International payments basics
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International payment types, including SWIFT Alliance Lite and FedGlobal ACH
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Settlement and foreign exchange
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International risks, anti-money laundering and OFAC compliance
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Developing an international ACH business case
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Implementing an international ACH service
AGENDA
DAY ONE (9:00 a.m. - 4:00 p.m.)
International Payments Basics
9:00 a.m. - 10:30 a.m.
What are international payments, how do they work, and how do they settle? These questions and more are answered in this session, which includes a look into what constitutes an international payment and when an international payment may be necessary. A comparison of U.S. domestic payments processing to international payment processing, including a review of comparative payment systems are also discussed. Basic international terminology is defined and a review of the global payments landscape is provided. Finally, where does the IAT fit in international payments?
BREAK
10:30 a.m. - 10:45 a.m.
Understanding International Settlement
10:45 a.m. - 11:45 a.m.
Comparing the traditional ACH Settlement process to international settlement is like comparing apples and oranges. Similarities and differences in these processes, including a look at the IAT, are reviewed in this session. Topics discussed include how international settlement works, and how it differs from that offered domestically.
LUNCH
11:45 a.m. - 12:45 p.m.
Foreign Exchange Principles
12:45 p.m. - 1:45 p.m.
The role and effects of foreign exchange (FX) on an international payments program are explored in this session. Topics include the basics of foreign exchange, how it works when sending payments in different currencies, the concept of foreign exchange as it relates to international settlement and CLS. Tools for accessing current exchange rates are shared.
BREAK
1:45 p.m. - 2:00 p.m.
Exploring International Payment Types
2:00 p.m. - 3:00 p.m.
Various international payment types exist but how do you choose which option to use? The concepts of Real-Time Gross Settlement (RTGS), International ACH and IAT, and evolving payment standards are discussed in this session. Each payment type is explained and suggestions for use are examined.
Examining International Risks, Anti-Money Laundering and OFAC Compliance
3:00 p.m. - 4:00 p.m.
Offering an international payments program expands your business reach, but can also expose your organization to unique risks. The speaker in this course reviews ways to recognize and counter risks and discusses tools available to help mitigate risk. Learn how to leverage risk to better manage liquidity or FX settlement exposure, ensure your organization is in compliance with regulatory requirements, and clarify how the rules and regulations of your trading partners may affect your bottom line.
DAY TWO (9:00 a.m. - 3:00 p.m.)
Product Introductions
9:00 a.m. - 11:30 a.m.
Introduction to International Products
9:00 a.m. - 9:20 a.m.
Product offerings beyond SWIFT and the Federal Reserve are available. A short discussion of the uses and benefits of these products and a listing of resources on where to obtain more information are shared in this session.
SWIFT Alliance Lite
9:20 a.m. - 10:20 a.m.
The speaker in this session offers an in-depth look at SWIFT's Alliance Lite product. Topics include how the product works, features and benefits the product may bring to your organization, the costs involved in implementing and use, and how Alliance Lite can help expand an international program.
BREAK
10:20 a.m. - 10:30 a.m.
FedGlobalACH
10:30 a.m. - 11:30 a.m.
The speaker in this session offers an in-depth look at the Federal Reserve System's FedGlobal ACH product. Topics include how the product works, features and benefits the product may bring to your organization, the costs involved in implementing and use, and how FedGlobal ACH can help expand an international program.
Establishing & Implementing a Business Case
11:30 a.m. - 2:30 p.m.
Developing an International ACH Service Business Case
11:30 a.m. - 12:30 p.m.
This session explores steps to take when developing a business case on implementing an International ACH service. A checklist is given to all students for use in their organizations. Concepts discussed include gauging customer demand and identifying a target market, distinguishing among business models, recognizing risks, benefits, and potential revenue, and assessment of start-up and operating costs.
WORKING LUNCH
Exploring Additional Resources
12:30 p.m. - 1:00 p.m.
Students are provided resources available to help gain additional knowledge of the international payments landscape. The role and make-up of the U.S. International Committee is discussed. A brief description of NACHA's Institute of International Payments is provided, along with an update of the actions of NACHA's Global Payments Forum. Finally, the International PaymentsWeb site is explored.
Implementing an International ACH Service: After the Business Case
1:00 p.m. - 2:30 p.m.
This session examines steps to take when implementing an International ACH service. A checklist is given to all students for use in their organizations. Concepts discussed include establishing a product team and identifying partners and vendors. The path to implementation and assigning timeframes is explored, as are recommendations on drawing up agreements, developing a marketing plan, implementing a payment system review of receiving country rules, and OFAC requirements.
Open Discussion
2:30 p.m. - 3:00 p.m.
Time is provided to allow students to ask questions during this interactive session.