Thank you for the opportunity to speak at the Real Time Payments Summit. Ten years ago, the Reserve Bank conducted a Strategic Review of Innovation in the Payments System. The aim was to foster cooperative innovation to improve the safety, efficiency and competitiveness of the payments system. The conclusions of that review set out some strategic objectives for the payments system of the future: • The ability to make real-time retail payments • The ability to make and receive payments outside normal banking hours • The ability to send more complete remittance information with payments • The ability to address ... (full story)