How Challenger FMIs are Revolutionising Cross-border Payments?
Tuesday, 30th August 2022
| Claudi Ceresani, DGT Solutions
| Phil Mochan, Nomos
Cross-border payments have always been in the spotlight, often criticized for being slow and costly and unable to cope with the demands for efficient payments among individuals, firms and financial institutions from different jurisdictions.
Challenger financial market infrastructures are trying to solve this long-lived claim for efficient cross-border payments. New technologies, along with access to flexible and affordable computing services, have encouraged the development of solutions that aim to fulfil the demand for better retail and wholesale cross-border payments.
In this session of The FMI Broadcast, we continued the discussion on how challenger FMIs are contributing to solving the cross-border payments conundrum with guests Phil Mochan from Nomos, a new global FMI that supports correspondent banking and Claudio Ceresani from DGT Solutions.
The session covered:
- The challenge for lower-value transactions within the correspondent baking ecosystem
- What the banking industry and public sector could gain from lower-value transactions
- Low-cross remittance
- Next-generation of cross-border payments and other future developments
- Risks, policies and solutions around cross-border payments and operating hours
- improving the alignment of cross-border due diligence requirements, digital identity assurance frameworks and technical standards
- The implementation of international standards in national jurisdictions
14:00 – 14:10: Intro and the latest FMI news: Introduction and housekeeping by the host, Carlos Léon
14:00 – 14:50: Guests speakers: Phil Mochan (Nomos Digital) and Claudio Ceresani (DGT Solutions)
14:50 – 15:00: Q&A: Our host and speakers tackle your questions from the session
Session #4 Guests
Founder & CEO, Nomos Digital
Phil began his career in Telecoms in the 1980s at the time of the sector’s digital transition, initially working internationally with multinationals to deliver solutions in e-commerce, messaging and the internet. He later worked as a principal financier in acquiring telecoms businesses. After a five-year stint in management consultancy for a Euro500 business, working mainly in the strategic transformation of utilities and consumer financial services businesses. He then moved into principal finance in the early 2000s, working at the boundary of content and infrastructure, becoming a thought leader in utility regulation. Focusing back on wealth creation around 2004/5, he supported a number of early-stage businesses to successful exits in the technology and media space, along with some failures.
In the last decade or more, Phil has established and led a retail payments business and a digital post-trade business, becoming a thought leader in the digitalisation of capital market infrastructure in the process. In 2021, he established Nomos in an attempt to bring an innovative deliverable solution to the problems of cross-border payments through a partnership with central banks and correspondent banks by addressing the core problems of adaptability, settlement and liquidity. He has qualifications in Computer Engineering, Marketing and Corporate Finance and speaks several languages inadequately. He is a Member of the Chartered Institute of Marketing and a Fellow of the Royal Society of Arts.
|Claudio Ceresani |
Founder & CEO, DGT Solutions
Claudio has over 30 years of extensive management and global business experience in payment systems. He is a committed executive with strong multi-diciplinary skills, recognised internationally by the major players in payment system infrastructure strategy.
Claudio is a subject matter advisors on Real-time Payments, High-Value and retail payments processing, Central Bank Digital Currency, and Clearing and Settlement of securities and equities.
To date, Claudio has dealt with more than 50 Central Banks and Market Infrastructures giving businesses and technical advice and has, in addition, been personally involved in shaping the transformation of more than 20 Central Banks’ payment system strategies.
Claudio founded DGT Solutions to enable Central institutions to accomplish complex transformation initiatives through the application of business innovation and specialist knowledge. He also holds an MBA and a University degree in Electronic Engineering.
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