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