Weekly Transaction Banking Industry Insights

1. ICC and UNECE call for global adoption of unified digital trade standards - International Chamber of Commerce

The International Chamber of Commerce (ICC) Digital Standards Initiative (DSI) and United Nations Economic Commission for Europe (UNECE) issued a joint call to action to accelerate the adoption of globally interoperable standards essential for achieving digital trade worldwide.

2. A multi-tool for cross-border payments: the power of Legal Entity Identifiers − speech by Victoria Cleland - Bank of England

Victoria Cleland discusses the benefits Legal Entity Identifiers (LEI) could enable for payments, the role that they can play in enhancing cross-border payments, and steps that could be taken to drive their uptake and use.

3. It's up to state banks to lead the way in payments innovation - American Banker

One of the fastest-growing areas for digital innovation is payments, a previously stagnant sector marked by legacy incumbents and technologies that, in the past decade, has been disrupted by new, digitally native competitors focused on increasing the speed, efficiency and transparency of payments while reducing cost.

4. Banque de France and HKMA kick off cross-border CBDC project - Finextra

The Hong Kong Monetary Authority is to become the first central banking institution outside of the EU to participate in the European Central Bank's digital euro exploratory project.