Financial Infrastructure Report 2023
With its annual Payment Systems Report, Banco de la República offers a complete overview of the infrastructure of Colombia’s financial market.
Each edition of the report has four objectives:
1) to publicize a consolidated account of how the figures for payment infrastructures have evolved with respect to both financial assets and goods and services;
2) to summarize the issues that are being debated internationally and are of interest to the industry that provides payment clearing and settlement services;
3) to offer the public an explanation of the ideas and concepts behind retail-value payment processes and the trends in retail payments within the circuit of individuals and companies; and
4) to familiarize the public, the industry, and all other financial authorities with the methodological progress that has been achieved through applied research to analyze the stability of payment systems.
Main Points: 2023
EThere is an international trend in the use of standardized messaging to facilitate interoperability in payments.
ISO 20022 is a standard for messaging in the fnancial industry. It offers a common language with more complete data that allows for effciency in processing different types of payment, harmonization between fnancial infrastructures, fraud detection and improved user experience. Internationally, the case of England is particularly relevant for outlining a long-term plan to incorporate standardized messaging. Locally, the new DCV has adopted standard messaging and plans to include it in instant payment systems.
Cifras clave, 2023
(en promedio diario de 2022 y cambio anual, porcentaje)