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International Clearing and Settlement - Noyes 2013

206 ratings | 47986 views
How do banks process international payments?
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Text Comments (15)
billy kobilca (4 months ago)
SWIFT needs to replaced Too centralized not good. Fraud information is secretly withheld from public knowledge.
Ricardo Hodls (4 months ago)
why is the USA sending out payments in pound sterling in your example around 7:02? Also Bitcoin has already made this outdated system obselete
Rahul Kr Gupta (11 months ago)
Thank you so much for the depth and clear processing knowledge sharing with us. It really gonna help at least to me itself the uses of SWIFT and importance of Route. Once again thank you sir! Keep share such ideas.
Stefanie Pitts (1 year ago)
Has the SWIFT changed in the new system?
Oliver Van Zant (1 year ago)
This is great, thank you for putting it together. If you haven't already you should check out the cryptocurrency company Ripple, I think you'd find their project intriguing.
AprendaFacil (2 years ago)
would u give me private class 1 to 1 by skype ?
Bobby g. (2 years ago)
Good work
Marco Tizzano (3 years ago)
Amazing explanation. I've been working in the payment card industry as a Software Developer for one year. I still have loads of things to study and understand. This video really clarifies what this part of the process is all about. Thanks a lot
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Marco Tizzano (3 years ago)
+Joseph Brant I'm afraid I don't have experience in core banking software, but talking to some collueagues of mine, it is just as you supposed to. Most of banks still use old lagacy systems, written in old fashion cobol or mumps program languages. They do have GUIs and more sofisticated systems which actually have got an interface with the previous one. Kind regards. :)
Joseph Brant (3 years ago)
+Joseph Brant what type of software/ technologies do you think the central bank uses? probably out dated legacy systems! 
Joseph Brant (3 years ago)
+Marco Tizzano Great answer thanks!
Marco Tizzano (3 years ago)
Well, it depends on the company, actually. There are so many technologies available nowadays and there is no standard defined for those kind of software. In my personal experience, I've noticed that most of biggest financial software houses are oriented to use Java for developping frontend applications (like Web GUI, web services, batch applications, mobile applsetc). In this case, frameworks like Spring Web and Hibernate are always present, almost like a "must to use". At backend side, instead, service oriented middleware systems (like Oracle Tuxedo and JBoss EBS) are largely used to deploy all the customized applications and software modules developed in C/C++ language (sometimes also in Java). As far the rational database system is concerned, the most widely chosen one is definitely Oracle, although Informix or DB2 are still used a lot. I hope this helps Kind Regards.
Ashe Meno (4 years ago)
Really well-explained video. Thanks

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