Agenda
Mon 16 Nov3:00–4:30pmPublic-Private Roundtable
Rethinking Instant Payment Infrastructure from the Ground Up
Global Frameworks, Interoperability & Shared Best Practices
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About This Session
Most conversations about improving instant payment systems focus on iteration: faster rails, lower costs, broader interoperability. This roundtable asks a more foundational question: are there aspects of how these systems are typically architected that are worth revisiting at the root, rather than only refining at the edges?
Many systems today rely on a model where a payment is sent, and if something doesn’t match up, the two sides exchange after-the-fact messages to reconcile what happened. This reconciliation-heavy approach carries real ongoing cost, and emerging approaches, including early pilot evidence, suggest that dependence on it can be reduced through pre-validation, where payment data is checked and verified before a transaction is executed. Such design choices made early in a scheme’s architecture can shape how easily it extends to full inclusion later.
This session aims to bring together development institutions, instant payments players, central banks, and relevant voices to discuss whether the iterative path – where systems are made incrementally better over time – or the fundamental path – where systems are rebuilt from the ground up – is a more viable solution for national payments systems looking to embark on pre-validation.
The roundtable aims to produce a practical roadmap for countries looking to implement prevalidation across financial institutions. Where available, early pilot data will serve as evidence, discussed frankly under the Chatham House Rule.
- When
- Monday 16 November3:00–4:30pm, Singapore time
- Where
- Public-Private RoundtableRoundtable Room 1
- Access
- Invite-Only
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Dr. Georgios KorpasVP & Principal ScientistHSBC
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Aqsa ZubairDeputy Director, FinTech SupervisionBermuda Monetary Authority
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Charlie MarkhamTechnical Specialist, Emerging Tech & ResearchFinancial Conduct AuthorityModerator
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Adeline TungDirector, Policy & Technology, Data Innovation & Protection GroupIMDA
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Dr. Alex PalmerChief Operating OfficerDataMasque
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Dr. Uzair JavaidChief Executive Officer & Co-founderBetterdata
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1:30–3:00pmTue 17 NovPublic-Private RoundtableRoundtable Room 3Invite-Only
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Programmable Compliance: Which Rules Travel with the Money, and How?
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Prof. Bob WardropFounder & Chief Executive Officer of RegGenomeCambridge University & RegGenome
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Matthias ObrechtHead Supervision New TechnologiesSwiss Financial Market Supervisory Authority (FINMA)
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Nischint SanghaviHead of Digital Currencies, APVisa
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Sonja DavidovicSenior Digital Expert on Transformative TechnologyInternational Monetary Fund
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Vinay PalathinkalGeneral Manager, APACLorum
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Nora AlbakrDeputy Governor for Financial InnovationSaudi Central Bank
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Varlam EbanoidzeHead of FinTech Development & Innovation OfficeNational Bank of Georgia
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Nilixa DevlukiaChairOpen Finance AssociationModerator
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As money becomes programmable, across central bank digital currencies, tokenized deposits, and stablecoins, a real question is emerging about where compliance should live: embedded directly in the asset as a rule that travels with it, layered on top through richer messaging and real-time screening, or enforced separately by whichever party touches the transaction last.
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Discussion questions:
1\. Should compliance logic live in the asset itself, in the messaging/settlement layer, or in a separate real-time screening service, and does the answer change depending on whether it's a CBDC, a tokenized deposit, or a stablecoin?
2\. When a transaction crosses borders, whose compliance rule actually governs — sender's jurisdiction, receiver's, or the rail's — and what happens when they conflict?
3\. Retrofitting compliance onto existing settlement infrastructure and building it in from scratch are both live strategies right now — what would each need to prove to become the default, and is convergence between them actually possible?
4\. As more transactions — including those initiated by autonomous agents — require a compliance check the moment value moves, what are the minimum interoperability standards needed for rules to actually travel with money across rails?
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