Finextra – By Paige McNamee
This round table achieved great debate, provided a forum for insightful and differing opinions and concluded with a consensus that there was a need for more clarity from central banks and governments on what they are aiming to achieve with central bank digital currencies (CBDCs). While banks are ready to invest in the relevant and necessary technologies required to embrace the promises of all that CBDCs have to offer, they currently need a clear roadmap of the vision and long-term goals necessary to warrant such an investment at this time.Alistair Brown
VP of Open Banking and Payments at EPAM Systems, Inc.
From asserting that we need to abandon the terminology around central bank digital currencies (CBDCs) to arguing that we need CBDCs to “oil the lines” that are currently underpinning the domestic and international payments ecosystem, a recent roundtable* featuring more than 30 leading voices from a range of institutions across global payments dissected key questions which continue to shape the discussion around the future of CBDCs.
Read the full article here: https://www.finextra.com/the-long-read/541/questions-unanswered-dissecting-the-cbdc-business-case
For more insight into topics with global ramifications impacting the financial services industry, read EPAM’s third annual Consumer Banking Report: https://www.epam.com/2022-banking-report
Learn more about EPAM’s work within the financial services industry at https://www.epam.com/our-work/financial-services