CPMI conference on "Pushing the frontiers of payments: towards faster, cheaper, more transparent and more inclusive cross-border payments"

Online conference hosted by the CPMI on 18 and 19 March 2021.

On-demand streaming of our conference sessions is now available on the event webpage biscpmi.navus.io.

Over the past few decades, domestic payment systems have undergone a radical transformation. New payment methods and interfaces have taken shape, and many more innovations are under way. The Covid-19 pandemic has further accelerated the shift to digital payments. Yet cross-border payments are still in many cases very slow, expensive, opaque, and for many users not easily accessible.

Improvements in cross-border payments would make a real difference to many of the poorest and most vulnerable who disproportionately bear the cost of the frictions and shortcomings of the current systems. These are not new issues, but the improvements that have been made in domestic payment systems, and new approaches aiming to leverage radically different technologies, have pushed cross-border payments up the political agenda. As a result, the G20 finance ministers and central bank governors, a year ago, tasked the Financial Stability Board (FSB) together with the Committee on Payments and Market Infrastructures (CPMI) and other international bodies to develop a roadmap to improve cross-border payments.

In October 2020, the G20 endorsed a roadmap to enhance cross-border payments. It builds on an FSB report, setting out the challenges and the frictions in cross-border payments that contribute to them, and a CPMI report, describing the necessary elements of a response, in the form of a set of 19 building blocks.

Following the roadmap endorsement, the work has moved to advancing and implementing the building blocks outlined in the CPMI stage 2 report. The CPMI, the international standard setting body that promotes, monitors and makes recommendations about the safety and efficiency of payment, clearing, settlement and related arrangements, will lead more than one half of this ambitious cross-border payments agenda.

In the initial phase of this work, the CPMI will host a conference to bring together market participants, authorities and academics to share research and policy analysis in the field of cross-border payments. The conference seeks to identify future developments and dynamics that will facilitate cross-border payment enhancements, taking into account the global perspective.

Conference committee

  • Douglas Arner (University of Hong Kong)
  • Chris Brummer (Georgetown Law)
  • Markus Brunnermeier (Princeton University)
  • Ross Buckley (University of New South Wales)
  • Piero Cipollone (Banca d'Italia)
  • Miguel Diaz (Banco de México)
  • Darrell Duffie (Stanford University)
  • Katja Langenbucher (Goethe University)
  • Gottfried Leibbrandt (Former CEO SWIFT)
  • Andréa M. Maechler (Swiss National Bank)
  • James McAndrews (Wharton Financial Institutions Center)
  • Tara Rice (CPMI)
  • Hyun Song Shin (Bank for International Settlements)
  • Cecilia Skingsley (Sveriges Riksbank)
  • Hans Tjio (National University of Singapore)
  • Carolyn Wilkins (Former Senior Deputy Governor, Bank of Canada)
  • Dirk A. Zetzsche (University of Luxembourg)

For any questions, please contact the conference organiser, Tres Wehrli, at tres.wehrli@bis.org.