Finastra Assessment Test Finastra Assessment Payments and Messaging 2

Question 1

Which SWIFT message type is used to transmit a customer credit transfer in the MT messaging standard?

Accepted Answer

MT 103

Answer

MT 103 is the SWIFT Single Customer Credit Transfer message used for cross-border payments on behalf of customers.

Question 2

In ISO 20022 payment messaging, what replaces the traditional SWIFT MT 103 for cross-border customer credit transfers?

Accepted Answer

pacs.008

Answer

The pacs.008 (Financial Institution Credit Transfer) message in ISO 20022 is the equivalent of the MT 103 for customer credit transfers.

Question 3

What is the primary purpose of SWIFT GPI (Global Payments Innovation)?

Accepted Answer

Provide end-to-end tracking and faster cross-border payment processing

Answer

SWIFT GPI delivers faster, more transparent cross-border payments with end-to-end tracking via a unique end-to-end transaction reference (UETR).

Question 4

Which Finastra product is a payment hub designed to centralize and orchestrate all payment types across an institution?

Accepted Answer

Global PAYplus

Answer

Global PAYplus (GPP) is Finastra's universal payment hub that supports multiple payment types and schemes from a single platform.

Question 5

What does the UETR field in a SWIFT GPI payment represent?

Accepted Answer

Unique End-to-End Transaction Reference

Answer

The UETR (Unique End-to-End Transaction Reference) is a UUID assigned to each GPI payment to enable end-to-end tracking across all correspondent banks.

Finastra Assessment Test Practice Test

Finastra Assessment Test Practice Test

Finastra Assessment Test Finastra Assessment Payments and Messaging 2