Delivering on the G20 Roadmap: Unlocking collaboration and innovation in cross-border payments
Abstract
Improving cross-border payments remains a global priority. Significant progress has been made under the G20 Roadmap, with notable achievements such as the adoption of ISO 20022 and policy advancements led by international bodies like the Financial Stability Board (FSB), the Committee on Payments and Market Infrastructures, and the Financial Action Task Force. However, challenges persist, and bridging the gap between aspirations and outcomes will require strengthened collaboration between the public and private sectors. Geopolitical shifts and digital innovations are reshaping the financial landscape, demanding adaptive and forward-looking solutions. Achieving the Roadmap’s goals will depend on sustained commitment and coordinated efforts to develop long-term strategies that address structural barriers, with the FSB playing a key role in driving this progress. This article is also included in the Business & Management Collection which can be accessed at http://hstalks.com/business.
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Author's Biography
Andrew Bailey has served as the Governor of the Bank of England since March 2020. Before this, he was Chief Executive Officer of the UK Financial Conduct Authority (FCA). Prior to joining the FCA, Bailey was Deputy Governor for Prudential Regulation and Chief Executive of the Prudential Regulation Authority at the Bank of England. His previous roles include Director of UK Banks and Building Societies and Managing Director of the Financial Services Authority’s Prudential Business Unit, with responsibility for the prudential supervision of banks, investment banks and insurance companies
