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VAT IT have spent two decades identifying, researching and perfecting the foreign VAT Reclaim process and built the best back end technology in the industry. By partnering with Euromoney Learning, we can provide you with a fast and effective way to reclaim your VAT which helps reduce the cost of your training.

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Can I claim back the VAT myself?

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Banking Fundamentals Academy: Module 3 - Transaction Banking

Examine the world of cash management, trade finance and securities services to create new business development opportunities and enhance revenue generation from existing relationships.
  • The Banking Fundamentals Academy is made up of 3 individually bookable modules

    Banking Fundamentals Academy: 1 - Banking Products and Services

    Banking Fundamentals Academy: 2 - Corporate Banking

    Banking Fundamentals Academy: 3 - Transaction Banking



    This programme is designed as a foundation course for participants who may have a limited knowledge of the transaction banking services.

    Provides a robust introduction to the fundamental elements of cash management, securities services and International by a bank.

    Day one: will focus on the structure of a corporate treasury function and the needs to control and fund working capital needs.

    Day two: will focus on cash transmission services and include correspondent banking, payment & collection, services. The topics of credit cards, SWIFT and client access will also be covered.

    Day three: will focus on the creation and processing of a trade, the legal, regulatory and compliance elements of a trade and the use of static data. The course will also look at the process of trade clearing settlement and safekeeping and examine the role of fund service, corporate actions, and operational risk.

    Day four: will focus on the nature of trade, risks associated with exporting and importing, the documents of international trade, the terms of delivery and payment methods.

    Day five: will focus on trade finance solutions including documentary collections, letters of credit, bonds and guarantees and basic financing products associated with documentary collections.

    This is a fast-paced course that covers a lot of material in a highly interactive way. All sessions involve case studies and exercises which can be built around local companies or existing client files if desired.



    After completing this course, participants will:

    • Be able to describe the role, and structure of a corporate treasury function.
    • Know the benefits to a bank of the cash management business.
    • Understand the banking products available to assist corporate clients in improving working capital efficiency.
    • Understand the risks and benefits to liquidity management services.
    • Know how to explain the role of a correspondent bank and correspondent banking services.
    • Be able to clearly define and explain payment and collection services offered by a bank.
    • Understand the role of the bank in the process of clearing, settling and safekeeping bank and client trade.
    • Know the role of Fund Services with the bank
    • Be able to describe the role of international trade and the structure of the trade finance market.
    • Know the risks associated with international trade.
    • Understand the banking products available to assist corporate clients such as documentary collections and letters of credit.
    • Know how to explain the role of a bonds and guarantees in the trade process.
    • Gain confidence in conducting both client and internal meetings in an informed and professional manner.


    Who should attend this course?

    Newly recruited staff within, client-facing, middle office, or back-office functions. Those within legal, compliance, financial control functions, or HR functions.


    Prior Knowledge

    None required


  •  DAY 1 -  Introduction to Cash Management, Working Capital, and Financing Working Capital

    Introduction to cash management

    • Define what the treasury function and the treasurer are responsible for
    • Outline the corporate objectives of cash management
    • Identify why cash management is attractive to the bank
    • Name the benefits of good cash management to both the corporate and the bank
    • Examine the business and corporate operating cycle

    Interactive exercise: Review of the objectives of cash management

    Interactive exercise: Review of the benefits to a bank of cash management services

    Importance of working capital

    • Describe working capital needs, working capital vs. operating working capital
    • Recognising why working capital matters
    • Outline positive and negative working capital and the implications of both
    • Define the cash conversion cycle (CCC)
    • Outline the use of working capital metrics
    • Recognise how a corporate might improve the efficiency of working capital
    • Show the dangers of overtrading

    Interactive case study: Exploring working capital metrics

    Working capital financing

    • Identifying the methods of financing working capital
    • Describe receivables management, use of trade discounts
    • Examine payable management and advantages of improving payables
    • Show the use of bank overdrafts, revolving credit facilities and commercial paper
    • Recognise alternative methods of working capital finance
    • Outline the mechanics and use of: Confidential invoice discounting, receivables financing, factoring and supply chain financing (SCF)

    Interactive case study: Structural differences between confidential invoice financing and factoring

    Liquidity management

    • Define the role and benefits for liquidity management
    • State the aims of cash sweeping, cash pooling
    • Define the mechanics, benefits and risks of cash sweeping and cash pooling
    • Define the mechanics, benefits, and risks of notional pooling
    • Outline the mechanics of interest optimisation and aggregation
    • Show the options available for investing a cash surplus
    • State the risks vs. returns on investing a cash surplus

    Interactive exercise: Benefits of cash sweeping

    Day 2 – Accounts, Correspondent Banking, Payments and Collections, Card, and SWIFT Services

    Account services

    • Describe corporate accounts and accounts services
    • Recognize the need for “Know Your Customer” (KYC) and Anti-Money Laundering (AML)
    • Examine the role and nature of Basel III changes on a bank’s capital and funding structure
    • Define “sticky deposits, Liquidity Coverage Ratio (LCR) and Net Stable Funding Ratio (NSFR)
    • Identify operational and non-operational corporate relationships
    • Electronic Banking – IBAN and Bank Identifier Code (BIC)

    Interactive exercise: KYC screening and check list

    Correspondent banking services

    • Outline the need for correspondent banking and the role of correspondent banks
    • Explain the use of Nostro and Vostro accounts
    • Identify the benefits to a bank of offering clearing services
    • Examine the central bank’s role in the international payment system
    • Define the fundamentals of: Real Time Gross Settlement (RTGS), Net Settlement Systems (NSS) and Single European Payment Area (SEPA)

    Payment and collection services

    • Examine the nature of payment operations
    • Outline multiple collection types, multi delivery channels and geographical challenges
    • Examine the nature of collection operations
    • Identify the issues with domestic vs. cross-border collections
    • Define the use of virtual accounts and lockbox services
    • Listing potential clients for payment and collection services

    Interactive exercise: Examining the benefits of efficient payment and collection mechanics on working capital needs

    Card services

    • Define the types of card services available through a bank – charge, debit, and credit
    • Show the mechanics of credit card transactions
    • Describe individual and corporate card services
    • Corporate linking and card association
    • Outline the risks associated with cards and card risk management
    • Define card acquiring services

    Interactive exercise: drawing the mechanics of the card payment process

    Interactive exercise: Risks associated with card acquiring

    SWIFT services

    • Introduction to SWIFT and SWIFT message standards
    • Define the need for and the use of SWIFT messages
    • Outline the message types and formats, standardisation of messages
    • Describe the SWIFT for corporates services
    • Objective of ISO messages

    Interactive exercise: Review of standard SWIFT messages

    Day 3 – Client Access, Introduction to Securities Services, Safekeeping and Fund Services

    Client access

    • Describe developments in client access
    • Examine individual and corporate electronic banking services
    • Outline innovations in electronic banking
    • Reporting, data management and data enrichment services
    • Define treasury to bank communications

    Interactive exercise: Review of innovations in electronic banking

    Overview of trading and a trade

    • Define a trade, the process of trade creation and the market participants
    • Show forms of trade execution – OTC and exchange traded
    • List pre-trade checks – legal and compliance

    Operational overview

    • Define the Straight Through Processing (STP)
    • Recording static data, what it is and why is it important?
    • Describe trade capture, identification, validation, enrichment, and conformation
    • Recognise trade reporting – MiFID and OTC reporting practical considerations

    Clearing, settlement process and safekeeping

    • Define clearing, settlement and safekeeping and timeline for each activity
    • Outline both the Delivery vs. Payment (DVP) and Delivery free of Payment (DFoP)
    • Describe the process of central clearing and what are the advantages
    • Examine settlement instructions and Standard Settlement Instructions (SSI)
      • Outline the roles of fund services including Accounting & administration, compliance monitoring & reporting, and performance measurement & risk analytics

    Inventory management

    • Recognise the need for and process of Stock Borrow and Lending (SBL) and Sale & Repurchase Agreement (Repo)

    Corporate actions

    • Describe the nature of corporate action, voluntary and involuntary
    • Examine each of:
        • Dividend and coupon payments
        • Stock splits and consolidations
        • Stock buybacks

    Operational risk

    • Understanding the nature of operational risk

    Day 4 – Introduction to International Trade and Trade Finance

    What is trade finance?

    • Describe the origins and background to international trade
    • Define the objectives of trade finance for the perspective of a bank
    • State the bank’s view on risk mitigation, financing, settlement, and balance sheet management
    • Outline which countries are the top 10 exporters and importers and the products traded
    • Examine the participants connected to a trade finance transaction

    Understanding the risks associated with trade finance

    • Outline the potential dangers with international trade
    • Defining the risk issues with international trade for the exporter and importer
    • Examine how to mitigate potential risks

    Interactive exercise: Review of the potential risks for both an exporter and an importer.

    International trade documents

    • Recognise that international trade means the flow of each of goods, documents, and cash
    • State why documents are important
    • Define the essential trade related documents
    • Examine of trade documents -
    • Commercial documents - Sales contract, invoice (commercial, tax, customs and consular)
    • Transportation documents - Bill of Lading, air waybills, packing lists
    • Insurance and financial documents - Insurance policy, bill of exchange, promissory note
    • Official documents - Certificates of origin, certificates of inspection, analysis certificate and health certificate

    Interactive case study: Examining a sample of above documents and what do they tell you?

    Terms of delivery

    • Define the role of the International Chamber of Commerce
    • Describe the use and scope of Incoterms 2020?
    • Examine underlying methods of delivery

    Interactive exercises: Review of the Incoterms 2020 and cost comparisons of different Incoterms

    Methods of payment

    • Define the fundamental problems with international trade
    • Identify the risk ladder
    • Examine trade payment terms
    • State the role of a bank in the payment process
    • Describe the process of clean payments - open account vs. payment in advance
    • Show the risks associated with both payment methods

    Interactive exercise: “mapping out” cash flows and the flow of goods and documents

    Day 5 – Documentary Collection, Letters of credit, and Bond and Guarantees

    Documentary collections

    • Outline the relationship between the parties in a documentary collection
    • Define and review the structure of documentary collections
    • Delivery against acceptance, delivery against payment and avalisation
    • List the risks and benefits of documentary collections
    • Examining the duties of the banks involved with documentary collections
    • Define the conditions for release of documents
    • Introduction to The Uniform Rules for Collections published by ICC - URC 522

    Interactive exercise: Participants in teams will “map out” the cash and document flows for documentary collections.

    Bank financing associated with documentary collections

    • Define a Bill of Exchange
    • Outline the use of post shipment financing - export bills under collection & discounting, import bills under collection & avalisation and bill discounting against buyer risk (BDBR)
    • Recognize the risks to a bank with financing under documentary collection

    Interactive case study: Comparing Bills of exchange and promissory notes

    Letters of credit

    • Examine the bank – customer relationship and how it differs from documentary collections
    • Define and review the structure of a letter of credit
    • Describe common forms of lets of credit
      • Irrevocable, irrevocable confirmed and transferable
    • Recognise the “Golden rules of a letter of credit”
    • Examine the duties of the banks involved with a letter of credit
    • List the risks and benefits to the exporter and importer of a letter of credit
    • Outline the risks to the bank associated with issuing, advising, and confirming a letter of credit
    • Show the advantages of confirmation of a letter of credit to the beneficiary
    • Introduction to the International Chamber of Commerce UCP 600 Rules

    Interactive exercise: Participants in teams will “map out” the cash and document flows for different letters of credit products.

    Standby letters of credit and bonds and guarantees

    • Outline the structure and potential use of a standby letter of credit
    • Examine the mechanics of standby letters of credit
    • Describe the use of guarantees and bonds including Tender/bid bonds, performance bonds, retention bonds/guarantees and warranty bonds/ guarantees (maintenance bonds)
    • Introduction to International Standby Practice 98 (ISP 98) and The ICC Uniform Rules for Demand Guarantees 758 (URDG 758)

    Interactive exercise: Participants in teams will “map out” a timeline for the use of guarantee and bond products.

  • Our Tailored Learning Offering

    Do you have five or more people interested in attending this course? Do you want to tailor it to meet your company’s exact requirements? If you’d like to do either of these, we can bring this course to your company’s office. You could even save up to 50% on the cost of sending delegates to a public course and dramatically increase your ROI.

    If you want to run this course at a location convenient to you or if you want a completely customised learning solution, we can help.

    We produce learning solutions that are completely unique to your business. We’ll guide you through the whole process, from the initial consultancy to evaluating the success of the full learning experience. Our learning specialists ensure you get the maximum return on your training investment.

  • We have a combined experience of over 60 years providing learning solutions to the world’s major organisations and are privileged to have contributed to their success. We view our clients as partners and focus on understanding the needs of each organisation we work with to tailor learning solutions to specific requirements.

    We are proud of our record of customer satisfaction. Here is why you should choose us to help you achieve your goals and accelerate your career:

    • Quality – our clients consistently rate our performance ‘excellent’ or ‘outstanding’. Our average overall score awarded to us by our clients is nine out of ten.
    • Track record – 10/10 of the world’s largest banks have chosen us as there training provider and we have delivered training across the largest banks and have trained over 25,000 professionals.
    • Knowledge – our 100+ strong team of industry specialist trainers are world leading financial leaders and commentators, ensuring our knowledge base is second to none.
    • Reliability – if we promise it, we deliver it. We have delivered over 25,000 events both in person and online, using simultaneous translation to delegates from over 99 countries.
    • Recognition – we are accredited by the British Accreditation Council and the CPD Certification Service. In an independent review by Feefo we scored 4.2/5 on service and 4.7/5 on Coursecheck
This course can be run as an In-house or Tailored Learning programme


  • Stephen Cosham


    Steve is a seasoned financial training professional with over 21 years of international experience having to date trained in 37 countries. He has been responsible for structuring, writing, and delivering financial training to commercial banks, investment banks, supranational entities, regulators, and universities. Steve has trained extensively in the Middle East, most recently in Abu Dhabi and Saudi Arabia where he delivered multiple programmes on a range of financial topics including retail banking, corporate banking, capital markets, derivatives, and trade finance. Steve has written distance learning programmes relating to financial markets and transaction banking in in association with several academic institutions.  Steve is a Fellow of the London Institute of Banking & Finance. Before his training career, Steve had 23 years of banking experience, 14 years of which were overseas.  His banking career began in 1975, at NatWest working both within the branch network and Financial Control. In 1979, he accepted an RAF commission training as a pilot. Steve returned to banking in 1982 with the MB Group of Marine Midland Bank, (now HSBC), moving to New York in 1984 to establish a trading desk for syndicated loans. Later as Director assuming responsibility for the liquidation of the EM portfolio for the HSBC group.  In 1990, he joined Citibank, on the EM sales desk. He transferred to Hong Kong in 1992 establishing an Asian EM sales desk. Later, as a managing director, he assumed responsibility for security sales in North Asia. He returned to London in 1998, managing the EM market syndicate desk at Citigroup.