CBPN Latest News
Fraud
Lipis Advisors: Get Your Head Out of the Sand — Best Practices in Fraud Prevention
Effectively preventing fraud as well as identifying bad actors and recovering ill-gotten funds requires cooperation among payment system stakeholders. Chief Executive Dr Leo Lipis and Director Andrew Gómez of Lipis Advisors present thoughts about fraud, the challenges involved in preventing it, and ...
Artificial Intelligence
AI 2030: Three Ways AI is Shaping the Central Banking Landscape
Xiaochen Zhang, Chief AI Officer & Executive Director at AI 2030, outlines three ways AI is pushing central banks to evolve and how they can seize this moment to create a future-oriented, frictionless, and personalised financial system for all.
CBDC
Function Before Form - Assumptions to Avoid When Designing Retail CBDC Systems
This whitepaper from Crunchfish highlights the problems of making premature design decisions on CBDC form without realizing its limiting consequences on the function and presents alternatives that are more suited for delivering the desired function. Defining function before form is of paramount impo...
CBDC
Legal Considerations for the Deployment of a Central Bank Digital Currency
The successful pilot testing of the eCedi, the Bank of Ghana’s CBDC, provided practical insights into the legal implications of testing or implementing a CBDC. This paper seeks to offer basic guidance to any central bank or monetary authority that is considering exploring a CBDC.
Settlement
ECB: Financial Industry Adoption of Distributed Ledger Technologies — Implications for Central Bank Money Settlement
The Eurosystem — consisting of the European Central Bank (ECB) and national central banks in the euro area — is analysing the potential impact of emerging technologies, including DLT, on the settlement of wholesale financial transactions. This work was initiated in response to increasing interest wi...
CBDC
Digital Euro Preparations Gain Momentum
This article from Piet Mallekoote highlights the background of the digital euro project and provides an overview of the state of play and challenges. Substantial progress has been made in the euro area in recent years with preparations for a digital euro. A decision to introduce it depends on politi...
CBDC
In Conversation with the Bank of Thailand’s Digital Currency Policy and Development Unit
Central Bank Payments News sat down recently with the Bank of Thailand’s Digital Currency Policy and Development Unit — Kasidit Tansanguan, Nuntapun Bhensook, and Thanaporn Rattanakul — to learn more about the retail digital baht pilot and what’s next for Thailand’s CBDC journey.
Cross-Border Payments
BISIH: Project Nexus - Enabling Instant Cross-Border Payments at Scale
The BIS Innovation Hub (BISIH) has developed Nexus, which is a blueprint to connect IPS globally in a multilateral and scalable manner. Nexus achieves this by standardising the way IPS connect to one another by leveraging on a common set of Application Programming Interfaces (APIs) and ISO 20022 mes...
Digitalisation
Visa: How Mid-market Companies are Taking Advantage of Global B2B Payments Innovations to Meet Trade Finance and Working Capital Objectives
Fast-growing mid-market businesses are increasingly embracing the dual objectives of payment digitalization and sustainability in pursuit of international growth goals. Unfortunately, mid-market businesses that are diversifying their exports haven’t always had the same options as larger enterprises ...
In This Issue: August 2024
- Emerging alongside innovations in faster payments, payments fraud is on the rise, presenting unique challenges to regulators, financial institutions, and payment system operators. In our Feature this month, Dr Leo Lipis and Andrew Gómez of Lipis Advisors examine four key methods for preventing fraud and urge stakeholders to get their heads “out of the sand” to effectively confront these challenges.
- In a preview of what can be expected at the inaugural Central Bank AI Conference in London next month, Xiaochen Zhang of AI 2030 discusses three ways AI is forcing central banks to evolve and “how they can seize this moment to create a future-oriented, frictionless, and personalized financial system for all.”
- Plus, we highlight all of the latest global payments news of the past month, including must-read reports, personnel movement at central banks, and much more!
