Cross‑border payments: Infrastructure, policy, and emerging solutions
About the course
Participants on this course will delve into the evolving landscape of cross-border payments. The training will address their growing importance and the main challenges facing central banks in creating fast, cost-effective, and transparent systems. Key topics include correspondent banking and the role of RTGS, how fast payment systems are being interlinked, the potential for CBDCs in reducing cross-border frictions, and the pros and cons of private solutions. This engaging course will equip participants with the essential tools and knowledge to understand the complexities of cross-border payments.
Tutors
David Ballaschk
Senior payment expert, directorate general payments and settlement systems
Deutsche Bundesbank
David Ballaschk is a payments expert in the Deutsche Bundesbank’s Directorate General Payments and Settlement Systems. His work focuses mainly on cross-border and real-time payments. He is a member of various G20 and G7 groups focussing on payments.
Max Newbold
Lead policy analyst, wholesale innovation team, wholesale payments division, payments innovation and fintech directorate
Bank of England
The objective of the Wholesale Payments Division is to develop and drive delivery of an ambitious Bank-wide strategic roadmap for responsible innovation in sterling wholesale payments and digital asset settlement; and to work with international stakeholders to catalyse meaningful enhancements in cross-border payments.
Rogério Antônio Lucca
Executive secretariat
Central Bank of Brazil
Agenda
The role of cross-border payments
- Review of cross-border payments: use cases, challenges, and their evolving role in the current geopolitical landscape
- Difference between wholesale and retail cross-border payments
- Interoperability as a facilitator of cross-border integration
Bank of England: Enabling innovation in wholesale payments through RT2
- BoE RTGS Renewal Programme (RT2) and overall vision for payments
- Future roadmap for RT2
- Resilient channels
- Synchronisation and wholesale experimentation
- Cross-border payments
- Extending and aligning operating hours
- Harmonisation of the ISO 20022 messaging standards
Interlinking fast payment systems: Bi- and multilateral connections
- Growing ubiquity of fast payment systems
- Improving speed, cost, and transparency with bi- and multilateral initiatives
- Aligning legal and regulatory frameworks across diverse jurisdictions
- Current status of existing interlinked fast payment systems, e.g. Project Nexus
CBDCs as a catalyst for cross-border payments
- Motivations for CBDC adoption by central banks and users
- How CBDCs might overcome obstacles associated with cross-border payments
- Integrating cross-border functionality into CBDC design
Innovative cross-border solutions
- Potential for stablecoins, cryptocurrency, and fintechs to reduce cross-border frictions
- Challenge of varying legal and regulatory frameworks, lack of interoperability, and limited scalability
- Promoting competition and innovation within the private sector
Learning objectives
- Gain a deeper understanding of cross-border payments
- Learn how RTGS service renewals benefit connectivity
- Examine the case for bi- and multilateral linkages
- Discuss the potential of CBDCs in cross-border flows
- Identify the pros and cons of private solutions
Who should attend
Relevant titles and departments may include, but are not limited to:
- Directors of payments and market infrastructures
- Heads of payments systems oversight
- Heads of market infrastructure development/management
- Heads of retail payment instruments
- Heads of innovation/fintech/digital currency
- Payment systems officers
- Directors of monetary policy
- Policy analysts
- Chief strategy officers
- Risk officers
- Heads of clearing and settlement
- Payments & FMIs department
- Oversight division
- Market innovation and integration division
- Market infrastructure development division
- CBDC division
- Monetary policy department
- Risk division
- Strategy division
- Clearing houses and local regulators
