Canada’s Payments Modernization initiative has been a multi-year, industry-wide program that includes the introduction of a new real-time payments rail (RTR), the first real-time payment system that supports instant, data-rich payments. Fundamental to the systems are modern rules and standards, including the introduction of the ISO 20022 global payment messaging standard, which supports payment data traveling with payments. During this panel, we will explore payments modernization in Canada, including:

• Understanding the role that ISO 20022 plays in Canada’s modernization efforts and the impact that ISO-enabled payments will have on Canada’s financial institutions (FIs)
• How FIs can leverage Real Time Rail (RTR) features
• The impact of alternative payment methods and how they are reshaping global payments and impacting FIs
• Advancing financial transparency, inclusion, and the development of the future of payment systems