Project Nexus: bringing instant payment systems together
Ben Dyson, project lead for Nexus at the Bank for International Settlements’ Innovation Hub, joins OMFIF to discuss the latest developments on Project Nexus, following the announcement of moving towards live implementation.
Instant payment systems are rapidly becoming the gold standard for modern, domestic payments infrastructure. Some countries have already begun interlinking their respective IPS, creating a quick, cheap and efficient means of sending money between their countries. Scaling this approach, however, is challenging. The number of bilateral connections required to deliver a seamless network connecting the over 70 IPS presently in operation would be enormous and prohibitively expensive to deliver.
The BIS’ Project Nexus offers an alternative: a hub-and-spoke model that enables domestic IPS to make a single connection with the rest of the network, delivering seamless cross-border payments to a much broader range of countries than would be achievable with bilateral linkages.
Speakers
Ben Dyson
Lead, Technology & Operations, Project Nexus
Bank for International Settlements' Innovation Hub
Ben Dyson
Lead, Technology & Operations, Project Nexus
Bank for International Settlements' Innovation Hub
Ben Dyson is an adviser at the Bank for International Settlements’ Innovation Hub. He founded Project Nexus, which aims to enable instant cross-border payments by connecting domestic instant payment systems together. Prior to joining the BIS Innovation Hub, he was at the Bank of England, where he led their work on central bank digital currencies, as well as developing policy and regulation on cryptoassets and stablecoins. He was the lead author on the Bank of England’s first discussion paper on CBDC.
Katie-Ann Wilson
Managing Director, DMI
OMFIF
Katie-Ann Wilson
Managing Director, DMI
OMFIF
Katie-Ann Wilson is Managing Director, Digital Monetary Institute at OMFIF. She is responsible for leading and managing the team to deliver the institute’s overall business objectives through a pipeline of publications and events. Katie-Ann develops the editorial scope across these projects and supports senior engagement with central banks, regulators, financial services, and technology providers. She also contributes to the corporate leadership of the entire business.
Prior to joining OMFIF, she worked at King’s College London, supporting the social science and public policy faculty on research submissions to higher education funding bodies. Before this, she worked as a grant writer for a non-governmental organisation in Israel.
Katie-Ann holds an MA in International Political Economy (distinction) from King’s College London and a BA (Hons) in International Relations from the University of Leeds.
Timings
10:00 – 11:00 (London)
05:00 – 06:00 (New York)
17:00 – 18:00 (Singapore)