Unifits: The Hidden Costs of Payment Clearings and Silos — A Vision for Global Efficiency

The time is ripe for a coordinated effort to streamline and modernize payment clearings. For central banks and leading policy-makers, addressing inefficiencies is not just about cost savings; it is about preserving financial stability, fostering innovation,…

Bit by Bit: How Data are Enhancing Payments

The steps the Bank of England is taking are designed to ensure the benefits of payments data are available to all RTGS users, irrespective of how they access their data. In doing so, the Bank aims to move towards an objective of richer payments data,…

ProgressSoft: Guiding Your ISO 20022 Adoption Journey

The global payment landscape is undergoing a profound transformation with the adoption of ISO 20022 standards and Cross-Border Payments and Reporting Plus (CBPR+) usage guidelines. This revolutionary shift not only brings forth promising innovations but…

Decoding ISO 20022: Lessons for Cross-Border Payments

As ISO 20022 adoption gains momentum, we believe that policymakers and the broader financial services community can leverage insights from the last 15 years of ISO 20022 implementations, while also drawing from card networks’ more than 40 years of experience…

BISIH: Enhancing Payments Through Innovations to Central Banks’ Payment Systems

Technology is revolutionising the provision of financial services. Central banks and other public authorities are identifying the opportunities this opens up, and one response has been to set up innovation functions. The Bank for International Settlements…

StoneX Global Payments: Navigating Our Ever-Changing Payment Landscape

While global regulators are rightly promoting the implementation of common standards, fast-developing geopolitical risks could lead to an increasingly fragmented ecosystem instead. This highlights the need for banks and financial services providers to…