The UK Finance association has published a report detailing the findings of experiments conducted with the Regulated Liability Network (RLN), a project aimed at modernizing the country's financial infrastructure. The tests, conducted in partnership with firms including Quant, R3, DXC Technology, and Coadjute, found that the RLN could unlock new functionalities for the UK's financial system. The report also highlights the versatility of UK regulation in supporting the network's operations. The integration of the RLN with other initiatives was found to deliver economic value and encourage innovation in financial markets, with the introduction of programmable payments and funds locking and unlocking. The report also suggests that a common interface point would benefit firms by simplifying connections with other institutions. The success of the experiments has demonstrated the potential of technology to transform the customer experience and deliver economic value, and UK Finance has called for a partnership with regulators to support investment in commercial bank money.



Other News from Today