Benchmarking
Most central banks resistant to crypto in retail payments
Just six central banks are open to retail payments being facilitated by digital assets like bitcoin
Majority of central banks increased payment system budget in 2023
Nearly half of central banks say resourcing is not sufficient
Average cost of running RTGS systems is $1.8 million
Annual costs slightly higher than last year’s benchmark
Most RTGS systems operate between seven and 12 hours daily
More than 40 institutions on average have direct access to infrastructure
Most central banks optimistic about tokenisation
Programmability, digital signatures and enhanced security are some purported benefits
Slightly over half of payments teams outsource services to third parties
Contracting central banks provide information on attendant risks and precautionary measures
Payments staff strength averages close to 30 personnel
Employees in the Americas collect highest average annual salary
Fewer than half of central banks involved in pricing payments
But Asia-Pacific and African institutions are typically do engage in pricing
Over a third of central banks say retail payments are diversifying
Americas and Asia-Pacific tend to report diversification, as tech and regulation drives change
Over half of central banks have payments oversight powers
Networks and international remittance supervision only covered in a few jurisdictions
Communications Benchmarks 2024 – model banks analysis
Additional breakdowns of the data highlight differences in emerging market and advanced economies
Communications Benchmarks 2024 report – emerging trends
Benchmarks highlight increased use of traditional media, comms staff’s shrunken roles in policy-making and exploration into AI
Most comms teams aim for social media boost in 2025
Top priorities for next year align with 2023 benchmark findings
Press releases outnumber officials’ public appearances
Statistical bulletins also rank as most published document annually
Majority of central banks plan to revamp website in next two years
Institutions aim to improve visual design, information architecture and user experience on their sites
Traditional comms still a bigger focus than social media
Lower-middle income teams less likely to track external communications
External comms impact gauged by trust and comprehension
Absolute numbers of appearances, social media engagement and market indicators rank lowest
Facebook, LinkedIn, X are top social channels
Central banks see “interactions” as key metric for tracking social media
Comms teams becoming less involved in key policy decisions
Early involvement appears to raise effectiveness in monetary policy communication
Central banks report varied approaches to layering comms
Many institutions use video and infographics to make key reports more accessible
Email and social media still top two-way comms channels
Only teams from Asia-Pacific central banks report use of live website chat
Comms staff rarely hold PhD qualifications
Social media and writing skills remain leading areas for capacity building
Female staff make up over 60% of average comms team
Employees most likely to fall in age category of 40–49
Media relations, social media and website are top comms tasks
International communications, museum visits and speechwriting rank least