8 Dec 2017

On the 08th December the Forum published its Consultation Assessment Report, its Final NPA Blueprint and Financial Crime Solutions.  Documentation can be found here.

The Forum represents the first time those who have an interest in payments in the UK have worked together to plan for a future that meets the needs of all users. Since our first meeting in October 2015 we have placed the voice of the user at the heart of our deliberations. Consumers and businesses continue to tell us they need greater control, more confidence when making a payment by increasing the capability to reduce the impacts of financial crime and the ability to send and receive more information.

Building on the concepts outlined in our Strategy, the Blueprint defines a new architecture for payments in the UK to meet these and future needs, one based on a layered approach. The architecture will be underpinned by a single set of standards and rules, strong central governance and common international messaging standards. Stability and resilience are key design principles. Our recent consultation has demonstrated your support for this direction of travel and identified areas that require further detailed technical analysis in the next phase of work.

This is an historic opportunity to deliver a world class payment system. Implementation of the Blueprint will create simpler access, more competition, greater innovation, increased adaptability and reduced financial crime. As Forum members we fully support this, the robustness of our process and the content of our Blueprint. We are proud of this achievement and its potential to foster significant new competition and innovation in the UK economy.

It is now over to New Payment System Operator and UK Finance to maintain this level of engagement with users and to deliver, in a timely manner, this Blueprint to meet their current and future needs. We wish them success in translating our vision into reality.

The Payments Strategy Forum