Norges Bank deputy: lack of common infrastructure hampers faster payments
Banks could improve efficiency if they worked together, Nicolaisen says
Norwegian banks need to set aside their competitive urges and work together on building better real-time payments infrastructure, Norges Bank deputy governor Jon Nicolaisen said today (June 9).
Norway's failure to fully harness the gains from co-operation on payments mean its systems are starting to fall behind competitors, the deputy warned. "We have a job to do here," he said.
At present, Norwegian consumers can transfer money instantly in some transactions, but unlike in many countries with
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