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
What is the most popular programming languages and frameworks used in payment software? I know most of them still run in legacy system but would like to know what is technologies are still being used most?
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.
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. :)
They keep money in the corresponding bank in the currency they are interested in sending to the destination. Let's say you and me are friends and I just keep money at your house for whenever I need to pay you for something. Prehistoric as fuck.
Dear Tom! At about 07:50 in the video it says that 35% of all payments sent by banks result in Payment Routing Errors. You got me curious about error statistics related to international payment systems (routing errors or otherwise). I googled quite a bit and failed to find such stats... Any direction / resource will be appreciated! Thanks in advance! :) (just followed you on Twitter as well)
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.
You probably dont give a shit but does anyone know of a method to get back into an instagram account..? I was stupid forgot my login password. I appreciate any tips you can offer me!
@Joe Gunner I really appreciate your reply. I found the site through google and I'm trying it out now. I see it takes quite some time so I will get back to you later with my results.
Is the route chosen randomly?
Why not all banks have relationship with swift? Do they need to certify or soemthing?
What about settlement timeframes?
Animation goes so fast and doesn't allow to read all at once, topic to be study.
This is quite unclear to be honest
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
What is the most popular programming languages and frameworks used in payment software? I know most of them still run in legacy system but would like to know what is technologies are still being used most?
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.
Marco Tizzano Great answer thanks!
Joseph Brant what type of software/ technologies do you think the central bank uses? probably out dated legacy systems!
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. :)
I worked in international payments industry. This video helped me get the big picture. Thanks
Really well-explained video. Thanks
Has the SWIFT changed in the new system?
would u give me private class 1 to 1 by skype ?
How does bank to bank sett happens after remittances
didn't explained how the physical money goes?
They keep money in the corresponding bank in the currency they are interested in sending to the destination.
Let's say you and me are friends and I just keep money at your house for whenever I need to pay you for something. Prehistoric as fuck.
GREAT I have been trying to understand this operational matter of swift and settlement and your video explained alot very well
Dear Tom! At about 07:50 in the video it says that 35% of all payments sent by banks result in Payment Routing Errors. You got me curious about error statistics related to international payment systems (routing errors or otherwise).
I googled quite a bit and failed to find such stats... Any direction / resource will be appreciated! Thanks in advance! :) (just followed you on Twitter as well)
What about if I am in the UK and I'm sending USD to Australia for example?
nice how millions are transfers from country to country
Does China have its own payment messaging system now?
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
You mean ripplenet
finally how long take swift to India by receive payment
Please make a video about mt103
Good work
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.
You probably dont give a shit but does anyone know of a method to get back into an instagram account..?
I was stupid forgot my login password. I appreciate any tips you can offer me!
@Dayton Alvaro Instablaster =)
@Joe Gunner I really appreciate your reply. I found the site through google and I'm trying it out now.
I see it takes quite some time so I will get back to you later with my results.
@Joe Gunner it did the trick and I actually got access to my account again. Im so happy:D
Thank you so much, you saved my account :D
@Dayton Alvaro Happy to help xD