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Published date: 29 June 2023

Speech by Victoria Cleland - Global action to enhance cross-border payments

Given at Global Payments Summit in Cape Town, Published on 29 June 2023


Enhancing cross border payments to make them cheaper, faster, more transparent and easier to access would make an enormous difference to people and economies worldwide. Victoria Cleland sets out some recent achievements on this journey, including changes to the UK's RTGS service, and highlights future priorities. Success relies on cooperation and action from the public and the private sector. 

It is a pleasure to be speaking here in Cape Town to open the Global Payments Summit: an event that brings together representatives from over 30 countries across five continents. What better audience to address about enhancing cross-border payments: a global challenge that requires global solutions. The more countries that participate, the greater the difference we can make.

Almost three years ago to the day, the Committee for Payments and Market Infrastructures (CPMI) published the 19 building blocks [See Building blocks for a roadmap to enhance cross-border payments: letter to the G20] to enhance cross-border payments. The building blocks were the foundation for a clear action plan endorsed by the G20 - the Roadmap [See Enhancing Cross-border Payments: Stage 3 roadmap]. This set out a vision and steps to achieve it, bringing together central banks, public authorities, standard-setting bodies and the private sector around the world.

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