Bank of Mexico is developing SPEI 2.0, an inter-bank electronic payment system, which is projected to increase its operations by 52 percent this year, following an increase of 63 percent.
The Banco de México Payment Strategy document predicts that operations of less than 8,000 pesos, which represent 80 percent of the total, will grow by 80 and 50 percent by 2021 and 2022, respectively.
In view of the rapid growth of transactions, the Fed is working to make SPEI 2.0 more scalable and technologically advanced, as well as operating between payment methods.
To achieve the implementation of SPEI 2.0, Banco de Mexico evaluated various technologies for having a scalable framework; In this way, as an operator, we can explore alternatives that allow Banxico to get better information for decision making.
As for the functional components of SPEI 2.0, it sought to strengthen diagnostics and risk analysis.
Legally, the Bank of Mexico has stated that an updated version of its electronic payment system will include settlement services in pesos and other currencies.
Similarly, SPEI 2.0 will make delivery against payments on bond transactions; Because it protects the same regulation.
With regard to oversight, the aim is to reduce “human error” by automating processes, analyzing times and creating resources to protect users’ financial integrity, and identifying cybersecurity events.
This fact (developed for SPEI 2.0) is the most technologically advanced of the 2024s, during which the Bank of Mexico plans to launch a cryptocurrency, which will enter the financial system. Country and what needs to be regulated.
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