In response to the ERPB call for a swift implementation of instant payments to meet the needs of users of payment services, a number of market initiatives are currently under way. The launch of the investigation phase of TIPS is in several instances slowing down ongoing projects, opening up new questions and calling for reconsideration of strategies by both PSPs and infrastructure providers alike. The TIPS project should be assessed from a holistic perspective taking into account the cost/benefits of the overall marketplace and not only cost recovery at the level of the Eurosystem.
A single solution for instant payments would be ideal. A single solution would cater for an optimal model from a liquidity perspective as well as preventing system and solution fragmentation of IP services across Europe. The way TIPS is currently envisaged would however not appear to serve this purpose unless made mandatory.
As TIPS is not foreseen to become interoperable with other (CSM) solutions, its success is questionable as it cannot guarantee 100 percent reachability. As currently designed, it could contribute to fragmentation rather than solving it.
The European Money Week is organized by the European Banking Federation to highlight financial education. This year, the main topic at the Brussels kick-off will be the gender gap in financial literacy, as well as the role of financial literacy in sustainable finance. The EBF kick-off event brings together academic speakers, financial education specialists, policy-makers and financial sector representatives. REGISTER HERE
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FINTECH TOOL & DIGITAL SKILLS SEMINAR
In a half-day seminar we aim to discuss the financial education in light of the digital revolution. Let’s be amazed by the possibilities Fintech tools can give us and how digital literacy is crucial to remain future-proof. REGISTER HERE
Financial sector experts weigh in on ongoing work towards an 🇪🇺 strategy on #sustainablefinance – 🗝️tool for #lowcarbon transition, resilience. Stay tuned for Commission Action Plan next month! https://t.co/L16JHMiQyX
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