Central Banking

BoE lays out blueprint for RTGS reboot

Front of Bank of England London
The BoE is preparing for major upgrades to the RTGS system

The Bank of England has sketched plans for a revamped real-time gross settlement (RTGS) system, launching a consultation today (September 16).

The central bank plans to undertake a "comprehensive rebuild" of the underlying technology, in the process retaining core functions and resilience, but designing a system that it hopes will have the flexibility to keep up with the fast-moving payments market.

Broader access, higher resilience, improved interoperability with other systems, and a wider

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FedNow – at last

The instant payment system might help fix the US’s rusty payment rails, but it also faces competition, says Dave Birch

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