Ulrich Bindseil is Director General Market Infrastructure and Payments at the European Central Bank (ECB), a post he has held since November 2019. Previously, he was Director General Market Operations (from May 2012 to October 2019) and head of the Risk Management Division (between 2005 and 2008). He first entered central banking in 1994, when he joined the Economics Department of the Deutsche Bundesbank, having studied economics. His publications include, among others, Monetary Policy Operations and the Financial System, OUP, 2014; Central Banking before 1800 – A Rehabilitation, OUP, 2019; Introduction to Central Banking (with A. Fotia), Springer, 2021; Introduction to Payments and Financial Market Infrastructures (with G. Pantelopoulos), Springer, 2023.
Hall 2, Singapore EXPO
Premium
Instant cross-border payments are fast becoming an imperative in the financial industry. Globally, 75 instant payment systems (IPS) are operational and another 20 are under development. Supported by their real-time and 24/7/365 capabilities, connecting IPS across borders has the potential to enhance the speed and lower the cost for cross-border payments, supported by greater access and transparency.
One of the most ambitious projects to-date is Project Nexus by the BIS Innovation Hub (BISIH) which seeks to enable instant cross-border payments at scale by connecting IPS globally via a multilateral approach. In the next phase of the project, BISIH will support a group of first mover countries (India, Malaysia, the Philippines, Singapore and Thailand) to implement Nexus in the real world to deliver benefits both individuals and businesses.
This session will explore the challenges and opportunities of connecting IPS across regions, and discuss the potential of a multilateral connectivity approach such as that outlined in Project Nexus:
1. Promote the operationalisation phase of Project Nexus, announcing key milestones and strategic vision for Nexus’ rollout and adoption.
2. Discuss the transformative potential of a next-generation financial market infrastructure such as Nexus to create a seamless, efficient, secure cross-border payments ecosystem.
3. Encourage international dialogue and collaboration among central banks, financial institutions and technology providers to support the successful implementation of Nexus.
The Festival
Get Involved
Global Platforms
Copyright © 2024 Elevandi Limited and Constellar Exhibitions Ventures Pte Ltd.