Traditionally, the functions of financial market infrastructure (which includes payment systems) have been centrally administered and operated by a single entity. There is a growing movement within the wholesale financial market towards decentralisation in order to reduce reliance on centralised intermediaries and “unlock billions in capital and liquidity”. Decentralisation is at the core of our design principles at Fnality. Both the technology underpinning the Fnality Payment System (‘FnPS’) and our organisational design are based on the concept of decentralisation. There will be no ‘single point of failure’ should a server go down or ‘single point of attack’ from malicious actors...
Bank of England publishes an omnibus accounts policy to enable innovative payment systems
Here at Fnality International, we were pleased to see Christina Segal-Knowles, Executive Director, Market Infrastructure Directorate at the Bank of England address the challenges and opportunities in payments post Covid on 11th June 2020. The key points that we take from the speech are as follows:
Do we need to change thinking on value-date i.e. the date on which a transaction actually takes place? We’d love to hear your views.
Where’s the headphone jack on the latest iPhone? There isn’t one. If you want to use headphones, you need an adaptor. Compatibility is always a consideration when you try to take a big leap forward.