Central Banking Awards 2022 Winner

Central banks around the world are hard at work upgrading payment systems. Urged on by consumer demand and pressure from private initiatives, including stablecoins and other crypto assets, many are implementing the next generation of core payments infrastructure. In parallel, central banks and global organisations are working to overcome the limitations of cross-border payments, which typically remain costly and slow.

A technology provider whose systems lie at the heart of these initiatives is CMA Small Systems. The Swedish company provides payments infrastructure in over 60 countries, processing daily volumes worth more than $300 billion. The past year has been a busy one, as CMA implemented projects for central banks in Kuwait, the Kyrgyz Republic and the Philippines, as well as signing deals to provide fast payment systems for Paraguay and Pakistan.