RTGS service to be interoperable with distributed ledger technology, to allow greater access and to provide sophisticated data interface for liquidity management.

There is an important opportunity for early-stage engagement with the Bank of England (BoE) on the design of the future of the UK’s payment systems. This Client Alert explains how the BoE’s blueprint on its new real-time gross settlement (RTGS) service could impact the UK FinTech market. This development will be particularly relevant to direct users of the BoE’s RTGS service, any non-bank payment service provider considering becoming a direct user of the RTGS service in the future, and stakeholders working on distributed ledger technology (DLT) settlement models.