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      Speakers

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      Kosta Peric

      Kosta Peric

      Deputy Director, Inclusive Financial Systems

      Gates Foundation

      View the agenda

      Experienced executive at the intersection of technology, finance and innovation. Focus on digital financial inclusion at the Gates Foundation. Board chair at the Mojaloop Foundation and board member at the Interledger Foundation. Former Chief Architect at Swift. Author: The Castle and the Sandbox.

      Speaking At

      • 3:00–4:30pmMon 16 NovPublic-Private RoundtableRoundtable Room 1Open

        Global Frameworks and Shared Best Practices in Payments Chains

        Rethinking Instant Payment Infrastructure from the Ground Up

        Public-Private RoundtableRoundtable Room 1Open

        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.