Central banks look set to upgrade RTGS systems in the next 12 months

Nine central banks said they are planning ISO 20022 adoption

Real-time gross settlement (RTGS) systems are generally deemed systemically important for the financial stability of a country’s financial system. 

Economic development around the world is occuring at such a rapid pace due to advances in technology. And while digitalisation poses benefits for RTGS development, it also poses threats to these systems’ security. 

Timely upgrades can help meet increasing user demands and offer higher protection. Over half of central banks (55%) of the 30 that

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