Sibos 2026: Federal Reserve Financial Services' Amy Burr on cross-border payments

Quick Summary

Cross-border payments remain the cornerstone of global financial discussions, representing everything from massive trade deals to individual family remittances. Amy Burr of Federal Reserve Financial Services explains at Sibos 2026 how the organisation is prioritising infrastructure resiliency and launching new services to facilitate smoother global money movement.

Why are cross-border payments a priority at Sibos 2026?

The movement of money across borders is a primary focus because it involves the largest gathering of global financial players. Amy Burr notes that while the industry often focuses on large-scale global trade finance, such as an airline purchasing a plane, the scope is much broader. It includes smaller but equally significant transactions, such as individual remittances sent to family members in other countries. Whether the transaction is enormous or tiny, the need for smooth and transparent processes remains a constant requirement for all participants in the ecosystem.

How is Federal Reserve Financial Services addressing infrastructure resiliency?

Resiliency, security, and availability are described as table stakes for any payment system operator. Amy Burr emphasises that Federal Reserve Financial Services takes an ecosystem view of these challenges, working with partners to ensure the entire value chain is reliable. The nature of threats is constantly evolving and the speed of these challenges is increasing, meaning resiliency is a continuous process rather than a finished goal. This focus on robust infrastructure is essential regardless of whether payments are made by individuals or automated bots at scale.

What new initiatives are being introduced for global settlement?

A significant development discussed at the event is the pending launch of a new cross-border service, subject to regulatory approval. This initiative involves deep collaboration with other national central banks to achieve several key objectives:

• Expanding operating hours to support around the clock money movement.
• Harmonising technical and operational standards across different jurisdictions.
• Enabling final settlement in central bank money on a global scale.

These efforts aim to ensure that money can move and settle with finality at any time, reflecting the increasingly real-time nature of the global economy.

FF NEWS TAKE:

The Federal Reserve Financial Services' focus on harmonising standards and expanding operating hours marks a critical step towards a more integrated global payment landscape. By championing central bank money settlement for cross-border transactions, the organisation is addressing the industry's long-standing demand for higher certainty and reduced risk. This move towards 24/7 availability suggests that the traditional boundaries of national payment systems are becoming increasingly fluid to meet the needs of a digital, always-on economy.