【行业研报】BIS：支付——一切都在改变_市场营销策划_重点报告20230802_doc.docx

VictoriaC1e1and:Payments-it'sa11changeSpeechbyMsVictoriaC1e1and,ExecutiveDirectorforBanking,PaymentsandInnovationoftheBankofEng1and,attheUKFinanceSummerNetworkingEvent,1ondon,20Ju1y2023.Iwou1d1iketothankUKFinanceforinvitingmetospeak,andfortheperfecttimingofthereception.On19June,exact1yamonthandadayago,wereachedanimportantmi1estonemigratingCHAPS(theUK'shigh-va1uepaymentsystem)toISO20022,theg1oba1financia1messagingstandard.Thisevening'seventisanexce11entopportunitytoce1ebratethismajorco11ectiveachievementandto1ookforwardtothefurtherchangeandinnovationthat1iesahead.Therearemanypeop1eherethiseveningwhowereinvo1vedinthemigrationtoISO20022.ThetransitionwasnotjustaBankofEng1and(Bank)programme,itwasthecarefu1knittingtogetherof38programmes,witha11CHAPSDirectParticipantsbeingreadyatthesametime.Thesuccesswastheresu1tofsustainedco11aborationbetweentheBank,CHAPSDirectParticipants,theircustomersandvendors,andourtechno1ogyde1iverypartnerAccenture.Itrequiredsignificantp1anning,systemdesignandtestingfroma11institutions.Iwanttothankeachandeveryoneofyouforyourexpertise,commitment,andco11aboration.ThemovetoISO20022marksthefirststageofrea1isingsignificantbenefitsfortheindustryfromourmajortransformationprogrammetorenewtheRea1-TimeGrossSett1ement(RTGS)system.Iwou1d1iketotakethisopportunitytoexp1ainthechangesunderwayandhowco11aborationwi11he1pusmaintainthisunprecedentedmomentum,un1ockingfurtherbenefitsfromRTGSandenhancedwho1esa1edigita1money.BenefitsofrenewingRTGSThepaymentsindustryisevo1vinginresponsetorapidgrowthinnewtechno1ogy,increasingexpectationsfromcustomersandtheever-changingrisk1andscape.TheBank,throughitsprovisionofthecorepaymentsinfrastructure-RTGS-wantstosupporttheindustryandtoenab1egreatercompetitionandinnovation.Wehavesetoutavisiontode1iverbenefitstoindustryacrossfourkeyareas:increasedresi1ience,greateraccess,widerinteroperabi1ity,andimproveduserfunctiona1ity.ThemigrationtoISO20022wasthefirstmajorstepinrea1isingthisvision,whichwi11improvenoton1ydomesticpaymentsbuta1soenhancecross-borderpayments.Wearebui1dingasystemtomeetindustry'sneeds.Therefore,un1ockingthebenefitsofrenewingRTGSwi11on1ybepossib1ewithcontinuedc1oseco11aborationwiththepaymentsindustry.Thesebenefitswi11berea1isedacrossthreemainphases-1wi11speakbrief1yabouteachoftheminturn.Firstphaseofbenefits-ISO20022ThetransitiontoISO20022g1oba11yisamajorsteptoincreasetransparencyandinteroperabi1itytoenhancedomesticandcross-borderpayments.Itwi11re1easesomeimmediatebenefitsenab1ingtheCHAPSDirectParticipantstosendandreceivericher,morestructuredpaymentmessages.Thiswi11supportgreaterstraight-throughprocessing,quickerend-to-endpayments,andmoreaccuratedetectionoffraud.Iencourageeveryoneheretoconsiderhowbestyourorganisationsandcustomerscanbenefitfromthisopportunity.Wehavebeenco11aboratingwithUKFinancetodeve1opaframeworkforhowpaymentsshou1dbeprioritisedduringoperationa1disruption.Thiswi11he1pensurethemosturgentpayments(suchassa1ariesorbenefits)areprioritisedandthereforemakethewho1efinancia1systemmoreresi1ient.Therearemyriadotherusecases,forexamp1e,firmscou1dreconci1ethepaymentstheyreceivewiththeinvoicesissuedonanautomatedbasis;andcross-referencingenhancedinformationcou1dhe1ping1oba1effortstocombatfraud.UKFinance'sIdeathonthisAutumnwi11beagreatwayoffaci1itatingyetmoreinnovativeusecasesfor1everagingenhanceddata1Iam1ookingforwardtoseeingthecreativeresu1ts.However,thereissti11moretobedonetoensurewefu11yun1ockthebenefitsofag1oba11yharmonisedmessagingstandardforthepaymentsindustry.Themoresystemsthatspeakthesamemessaging1anguage,thegreaterthebenefits.De1iveringthiswi11requireatru1yco11aborativeapproachacrossthecentra1bankingcommunity,paymentsystemoperatorsandfinancia1institutions.TheJointTaskForceoftheCommitteeonPaymentsandMarketInfrastructures(CPMI)membersandprivatesectorrepresentativesareworkingtogethertoharmoniseend-to-enddatarequirementsforcross-borderpayments.Aninternationa11yconsistentapproachtousingthenewricherdatawi11beacritica1cata1ystinachievingtheG20targetsforfasterandcheapercross-bordertransfers.Whenthefina1pub1icationisre1eased,weencourageyoutoreviewitandinitiatetheinterna1workrequiredtomeetthisnewhigherstandardby2025wherepossib1e,and2027atthe1atest.Secondphaseofbenefits-newcoresett1ementengineOurfocusnowturnstothenewcoresett1ementengineforRTGS,whichwi111aunchnextsummer.Thenewinfrastructureanduserinterfacearecurrent1ybeingtestedwithintheBankandwi11beopenedupfortestingbyparticipantsthisAutumn.Thiswi11un1ockthesecondphaseofbenefitsofrenewingRTGS.ISO20022isde1iveringwiderinteroperabi1ity:thenextphasewi11de1iverincreasedresi1ience(inc1udingincreasedperimetersecurity);greateraccess,andenhanceduserfunctiona1ity.Itwi11a1sointroduceamodu1ararchitecture,de1iveringso1idfoundationsonwhichtointroducefurtherchange.Wehavea1readymadesignificantstridestowardsprovidinggreateraccesstoRTGStopromoteinnovationandcompetition.In2017,wewerethefirstG7centra1banktograntaccesstoNon-BankPaymentServiceProviders.Thiswasfo11owedin2023byanewaccesspo1icyforomnibusaccou