Payments
Payments overhaul under way in Aruba
Central bank to give up clearing responsibilities to oversee new payments infrastructure; consumer behaviour will be a challenge, bank says
Hong Kong and Singapore to collaborate on fintech
The first joint initiative of the two rival cities is to link the trade finance platforms with a DLT-backed interface
Cambodia launches first phase of payment inclusion network
New network will allow customers greater access to financial services through ATMs and POS to make interbank transactions
Kenya’s digital transformation
The use of innovative digital financial services has transformed financial inclusion in Kenya, writes the chairman of the Central Bank of Kenya
CBN orders banks to form central customer watchlist
Nigerian central bank ramps up payment system risk management with core customer database, which will put bank customers on a ‘watchlist’ in instances of misconduct
Fed’s Powell: banks still have important role in payments
Fintech is disrupting the sector, but banks still form a major part of payments infrastructure, so they must be included in work on faster payments, says governor
Canada’s Project Jasper to explore clearing of securities in third phase
Central bank teams up with new partner for phase three of DLT project, with results expected in May 2018
Riksbank simulates a payments crisis scenario
Central bank deems offline payments and withdrawals a suitable alternative to credit cards
Cleland outlines uncertainty of future cash demand
BoE chief cashier says people will move away from cash, but the rate of change is uncertain
Kuroda: future need not be fully centralised or decentralised
BoJ governor says both approaches to market infrastructure have pros and cons, and it is not necessary to have one or the other
Payments evolution will result in bank business model changes
Mid-sized banks will have to transform business models in order to remain relevant, says Swift, as fintech and globalisation threaten traditional practices
MAS working to keep crypto-currencies and ICOs under control
Authority is mulling how to respond to the growth of crypto-currencies and initial coin offerings
CPMI plans response to growth of wholesale payments fraud
Preliminary report outlines proposals designed to tackle security vulnerabilities in endpoints, as fraud becomes “increasingly sophisticated”
HKMA rolls out initiatives to promote ‘smart banking’
Hong Kong authority plans upgrade of supervisory sandbox and modified virtual banking guidelines; real-time retail payment system will be one of first to offer immediate settlement
Central banks will be using blockchain by 2019 – research
Study examines pros and cons of central banks adopting blockchain and considers use cases
Riksbank outlines three visions of ‘e-krona’
Sweden’s central bank presents three cryptocurrency models as a solution to the payments conundrum
BoE economist discusses danger of ‘virtual’ bank run
Faster payments and rise of smartphone technology have made it possible for consumers to drain commercial banks without having to leave their homes, official says
People: Fijian interim governor appointed permanently, Azerbaijan deputy leaves
Fiji’s Ariff Ali appointed on permanent basis; Azerbaijan deputy steps down; Bank of England retains PRC members; and more
Philadelphia Fed launches new research institute
Research body is tasked with better understanding consumer behaviour, particularly in relation to financial markets
Swift helps US real-time payments movement gain traction
The Clearing House will use Swift’s messaging software as “gateway” to new system, set to go live in 2018 after pilot phase
Six large banks join UBS digital currency project
UBS announces the third phase of its digital currency project; analysts question whether the project can deliver all it promises
People: RBNZ continues reshuffle; Fed appoints payments leader
Mills to fill Bascand’s shoes at RBNZ as assistant governor moves to financial stability; St Louis Fed vice-president to initiate faster payments project for the US central bank; and more
BIS payment stats to embrace non-banks and faster payments
New methodology acknowledges role fintech has played in reshaping payments landscape; contactless payment data to be included
Latvian central bank unveils instant payments system
System is the first to be compatible with the Single Euro Payments Area project, says the bank