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Are Financial Institutions prepared for new European payments architecture?
SWIFT has published a new paper on the evolution of the European payments landscape and the preparations that need to be made by the region’s financial institutions. The paper, Brave... more
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South Africa’s Central Bank says Blockchain payment trial successful
SARB, South Africa’s central bank has revealed astonishing results for a trial of its blockchain-based system for interbank clearance and settlement. According to a statement, SARB said it completed a 14-week... more
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Blockchain and distributed ledger technology move from promise to practice
Blockchain and distributed ledger technology (DLT) have been key disruptors discussed for several years now. But compared with previous years, when many of the discussions were conceptual, at finally there are some more practical, experience-based accounts of the technologies. JP Morgan, Royal Bank of Canada (RBC) and Australia and New Zealand Banking Group (ANZ), launched [...]
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BoE allows UK’s non-bank PSPs to gain access to RTGS accounts
The Bank of England has extended direct access to Real Time Gross Settlement (RTGS) accounts to non-bank payment service providers as part of a wide-ranging effort to inject more competition and innovation into the UK’s payments systems. The widely-trailed move is expected to open up a competitive space which has long been the preserve of [...]
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UK payment systems represent systemic risk to financial stability – central bank consolidation underway
In a recent announcement, the UK’s Payment Systems Regulator and the Bank of England (BoE) agreed a framework for the consolidation of Bacs, the Cheque and Credit Clearing Company and the Faster Payments Scheme. The BoE has now gone one stage further and announced it will it will set out plans by the middle of [...]
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