Cross-border payments innovation: tech solutions and CBDC architectures to make international transfers faster, cheaper and more inclusive.
The address frames the G20 TechSprint 2023 as a collaborative initiative to develop technology solutions for cross-border payments, focusing on three problem streams: AML/CFT and sanctions-screening technologies to reduce illicit finance risk; forex and liquidity mechanisms to enable settlement in more EMDE currencies; and multilateral cross-border CBDC platform architectures to promote interoperability, lower costs and increase efficiency. It links these priorities to India's fintech ecosystem, institutional innovations (FinTech Department, RBI Innovation Hub, Regulatory Sandbox) and a pilot Public Tech Platform for Frictionless Credit aimed at reducing integration frictions in credit delivery.