The road to interoperability: G20 targets, Project Nexus, and ASEAN innovation

This week, we sat down with Rahul Bhargava, consultant for The World Bank, about the evolving landscape of cross-border payments. The G20's roadmap for faster payments faces key milestones over the next two years, and the significance of BIS projects like Project Nexus have been instrumental in illustrating how faster, more secure, more transparent global payments could become a reality. We discuss the upcoming milestones that organizations must meet on the G20 roadmap, the ongoing developments in Project Nexus particularly in its third phase, and the global ambitions to apply the learnings of the project. Additionally, we cover the challenges posed by varying payment infrastructure maturity around the world, and the technological innovations that support these initiatives. Finally, we touch on the practical implications for banks and payment providers in adopting these new frameworks.