ArticleslgStudy

computer science

MT940

MT940 is a computer science topic covered in the lgStudy science library. This page brings together a partial reference excerpt, illustrations, worked examples, real-world applications and a short study plan, so you can understand MT940 rather than just read about it. In short: MT940 is a specific SWIFT message type used by the SWIFT network to send and receive end-of-day bank account statements. Message Type 940 is the SWIFT standard (Banking Communication Standard) for the electronic transmission of account statement data.

Key takeaways

  • MT940 belongs to computer science; place it in that map before memorising details.
  • Learn the definition first, then one example that makes the definition concrete.
  • Connect MT940 to a quantity you can measure, compute or draw — that is where exam questions come from.
  • Reproduce the core statement of MT940 from memory before moving on to harder problems.

Reference excerpt

MT940 is a specific SWIFT message type used by the SWIFT network to send and receive end-of-day bank account statements. Message Type 940 is the SWIFT standard (Banking Communication Standard) for the electronic transmission of account statement data. In various online banking programs, MT940 is used as an interface to other programs (e.g. for accounting), with which the account statement data are processed further. The MT formats (Message Types, MT) currently used in the SWIFT community, which also include MT940, are to be replaced in the long term by the XML formats described in the ISO 20022 standard to achieve global unification (see also de:Camt-Format).

External links MT940 (format specifications)

References

Worked examples

Example 1 — a first encounter with MT940

Start with the simplest possible case. Write down what MT940 claims or describes in one sentence, then invent the smallest concrete situation in which that sentence is true. In computer science, the smallest case is usually a single object, a single equation or a single measurement. Check that every symbol or term in your sentence has a meaning in that case.

Example 2 — changing one variable

Take the situation from Example 1 and change exactly one quantity: double it, halve it, or set it to zero. Predict what should happen to MT940 before you calculate. Comparing your prediction with the result is the fastest way to find out whether you understand the idea or only the words.

Example 3 — an exam-style question

Typical questions about MT940 ask you to (a) state it precisely, (b) apply it to given data, and (c) explain a limitation. Practise writing all three answers in under five minutes; the third part is what separates a full-mark answer from an average one.

Applications of MT940

In research
MT940 appears in computer science research whenever the underlying quantities have to be modelled precisely. Papers usually cite it as a starting assumption and then explore where it breaks down.
In technology and industry
Engineering practice reuses MT940 in design rules, simulations and safety margins. Knowing the idea lets you read a specification sheet and understand why the numbers look the way they do.
In the classroom
MT940 is common in secondary-school and first-year university syllabi. It links to neighbouring topics Computer network stubs, Society for Worldwide Interbank Financial Telecommunication, so understanding it makes those chapters shorter.
In everyday life
Look for MT940 outside the textbook — in sport, cooking, traffic, electronics or the sky above you. An example you found yourself is remembered far longer than one you were given.

Affiliate

Preply — study more efficiently by working with a personal tutor. 50% off.

How to study MT940 in 20 minutes

  1. Read the reference excerpt below once, without taking notes.
  2. Close the page and write down what MT940 means in your own words.
  3. Compare your version with the excerpt and mark what you missed.
  4. Work through the three examples above with pen and paper.
  5. Explain MT940 out loud to somebody else — or to Teacher Smith in the lgStudy chat.

Frequently asked questions

What is MT940 in simple terms?

MT940 is a specific SWIFT message type used by the SWIFT network to send and receive end-of-day bank account statements. Message Type 940 is the SWIFT standard (Banking Communication Standard) for the electronic transmission of account statement data.

Why does MT940 matter?

Because it connects several computer science ideas at once: it gives you a definition you can apply, a quantity you can calculate, and a way to check whether a result is plausible.

How should I study MT940?

Read the excerpt, restate it from memory, then work through the examples and applications listed on this page. The five-step study plan above takes about twenty minutes.

What does this page cover?

It gives you a compact reference excerpt plus original lgStudy explanations, examples, applications and study material on MT940.

Tags

  • Computer network stubs
  • Society for Worldwide Interbank Financial Telecommunication

Keep exploring