The survey performed by the Financial Stability Institute on the use of innovative technology2 reveals that within data collection, supervisory agencies across the world use applications for supervisory reporting, data management and virtual assistance, while within data analytics, applications are used for market surveillance, misconduct analysis, as well as micro-prudential and macro-prudential supervision. To facilitate the contact with the industry, the National Bank has recently developed an Innovation Gateway, as a platform where firms can raise questions and get answers concerning the regulatory framework. The main purpose of the Gateway is to facilitate, encourage, and support innovation in financial services, by providing information to all firms willing to pursue innovative business activities. It provides a clearly visible interface to our website and offers an insight view on issues related to application of new innovative technologies. We are pleased that through this channel, launched a couple of weeks ago, we have already received several queries from fintech firms coming from EU member states as well as local fintech company that intends to offer new services in the payments area. Our internal expert group will interact with these entities to properly understand their business model, the benefits they bring, potential risks and asses how they fit in the current regulatory framework. One of the main priorities of the Hub in the following period will be to develop a Financial Services Digitization Strategy. The main goal of the Strategy will be to provide an enabling environment, including open and affordable access to core digital services and infrastructures.
It recently agreed a strategic partnership with the African Stock Exchanges Association (ASEA) to promote improved cross-border payments for capital market trades. [9] Three years on, I want to celebrate what has been achieved, and to garner support for the journey ahead. Today I will explain the updated priorities for the roadmap, those actions that will deliver the greatest impact, and how you can play a role. I will bring the issues to life through examples from the Bank of England’s own active work programme to enhance cross-border payments through the renewal of our Real Time Gross Settlement service: learning from each other’s experience is an important element of delivering the roadmap. From analysis to practical implementation Enhancing cross-border payments is a complex problem that requires multi-faceted solutions. I spoke last year[10] about the need for cooperative solutions, with central banks, public authorities, and the private sector rowing in unison. We have made great progress in developing the foundational policies and guidance, to support a wide range of stakeholders to  Page 4  improve cross-border payments. An ambitious programme of technology and further policy changes is needed to deliver real change to consumers and businesses worldwide. Some of this will continue to be at a global level, but increasingly investment and changes will need to be made domestically and within individual institutions. The FSB announced in October 2022 three priority themes for future work: bringing together the actions that would help to deliver the targets most quickly.