Cost efficiency has been at the forefront of arguments for moving from paper-based to electronic payment instruments. However, inefficiencies persist, with cash still being “king” and the cheque still dominant in many countries. Data on the costs of payment instruments would be valuable in developing a strategy to improve countries’ retail payment systems, but it is rarely available.
The Nordic societies are the most digitised in the world. Banks, businesses and the public sector are soon fully digitised. What are the key takeaways and how can other regions learn from the Nordics? Learn about the great digital achievements in the Nordic region and the way towards a cashless societies, as well as digitisation and simplification in Nordic banks.
The market infrastructure operators in the U.S. – the Federal Reserve Banks and The Clearing
The International Payments Framework Association (IPFA), a not-for-profit organization – established in 2010 by banks, ACHs and other stakeholders incl. SWIFT, has the aim to simplify cross-border, cross-currency credit transfers. This will include ‘Instant Payments’ as of 2017.
In this session we inform about the current status and success of our initiative and explain the way forward, based on international developments in the area of ISO 20022. We intend to hold a “round-table”-discussion including IPFA-practioneers from the Americas, Europe and Asia.
The ICC Banking Commission produces universally accepted rules and guidelines for international banking practice. With over 80 years of experience and more than 600 members in more than 100 countries, the ICC Banking Commission has rightly gained the reputation of being the most authoritative voice in the field of trade finance.
The European market infrastructure landscape is transforming, and it’s transforming fast. Since announcing its vision for the future, the Eurosystem has been investigating concrete steps to turn it into a reality. Consolidating and enhancing market infrastructure, and creating a single interface for cash, securities and collateral is under consideration. This exciting endeavour calls for unity and collaboration between the public and private sectors. How can the needs of the market be met? How can we prepare for what’s to come?
The EBA CLEARING community will give an outlook on its Instant Payments Infrastructure solution and planning.
The payments industry is in full transformation. How will incumbent payment services providers and banks cope with increased competition, the digital consumer and upcoming innovations? This session will explore the business consequences of new regulation in the payments space (i.e. PSD2 XS2A), the opportunities and challenges of adopting alternative models and technologies (open APIs, blockchain) and the relationship with financial technology start-ups.
Since 2009, the People's Bank of China (PBOC) has released a series of policies to facilitate use of RMB for cross-border trade and investment, as well as to deepen bilateral currency cooperation with other markets. At present, RMB has become China's second largest cross-border payment currency and the world's fifth largest payment currency, according to the SWIFT RMB Tracker. Therefore, to better accommodate growing needs of global RMB liquidity and convertibility, it’s crucial to upgrade relevant infrastructure system.
Driven by over 75 global transaction banks, the global payments innovation initiative (gpi) will dramatically enhance the customer experience in cross-border payments. A payments Tracker, showing gpi payments progress in real-time as well as an Observer showing adherence by gpi banks to its rulebook are already under development to make this a reality. Join this session to discover the first proto-type and plans for these game-changing developments!