Central Bank of Iceland's Journey in Instant Payments and Cannibalization of RTGS Payments

Iceland's journey in the realm of instant payments is historic, dating back to 2002 with the initiation of the Central Bank of Iceland's large value payment system, SG, followed by the introduction of the instant payment system, JK, in 2003. These systems,…

Al Etihad Payments: Aani Instant Payments Platform - Redefining UAE's Financial Landscape

The Central Bank of the United Arab Emirates is actively pursuing digital innovation through the Financial Infrastructure Transformation (FIT) Programme. Among other key objectives, the FIT Programme focusses on driving financial inclusion, promoting…

GLEIF - Fighting Crime with Transparency in Cross-border Payments: The Need for Universal Entity Identification

The Legal Entity Identifier — as a unique global identifier — can solve the critical problem of insufficient transparency in counterparty identification in cross-border payments ecosystems. Why? Adding the LEI as a data attribute in payment messages allows…