In 1990, very few countries ran an RTGS system. Today, almost every central bank in the world has one. But some central banks are already investigating the next generation of payment systems beyond the RTGS systems as we know them today.
This panel will examine what some of the leading central banks are now considering.
After the launch of the faster payment Service in the UK in 2008, similar projects have been launched in many countries. The primary objective is to allow retail payments to be made available real-time to the beneficiary (or very close to real time). At least in theory, these systems could replace ACH, RTGS and/or card schemes. Will this happen? Our presenters will share their views and perspectives on this issue.
In their efforts to foster integrity, efficiency and accessibility of the payment system, some central banks are collaborating with the payment system stakeholders to promote payment innovation. These speakers will share their strategies, tactics and experiences for successful collaboration to help meet the needs of the evolving payment system.
During the last decade, non-banks have played an increasing role in payment processing. New legislation such as the EU Payments Directive have facilitated this evolution. How far will this trend go? Can we imagine that banks lose their traditional role in payments processing? Our presenters will provide some thoughts and considerations on this issue.
Additional presenters to be announced soon.
During recent years, central banks have been increasingly concerned about financial inclusion, particularly in developing countries where the lack of access to modern payment systems is an obstacle to growth. The presenters in this session will share their experiences, perspectives and innovative strategies for broader financial inclusion.
Central banks are increasingly concerned about the ability of financial market infrastructures to anticipate, withstand and safely and quickly recover from cyber-attacks. This presentation will highlight the ways forward to strengthen cyber resilience.
After hardware redundancy, which gained momentum after 9-11, some systems are now requesting participants to connect via two telecommunication providers. Software redundancy is also increasingly becoming an oversight requirement. This presentation will summarise G20 central banks expectations in this field.
At the end of the last century, several countries envisaged eliminating notes and coins. These attempts have failed. However, the concept of a cashless society seems to get renewed momentum. Presenters will explore the drivers and objectives for a cashless society, and the possibility of achieving it.
The CPMI reports have authority among the global central bank community. A summary of the recently published reports will be presented to the audience, together with an indication of the topics on which the CPMI is presently working.
For many central bankers, the blockchain technology remains rather mysterious. This session will provide an update on the subject and will provide an overview of how it could be implemented by banks and central banks in the field of payment systems. Will blockchain excessively fragment the payments landscape? Are there limits to disintermediation? What are the consequences for regulation/oversight?
PLEASE NOTE: This conference is closed to media and off-record.