RTGS CHAPS Industry Forum

Key Takeaways

• Bank seeks ~15 senior external members for new forum
• Forum advises RTGS and CHAPS design, development, operations
• Membership open to non‑RTGS participants, including fintechs
• Meetings at least three times annually, three‑year terms
• Input will shape UK payments resilience and modernization

Summary

The Bank of England has opened nominations for a new RTGS CHAPS Industry Forum, seeking about 15 senior external members from banks, fintechs, large corporates and other stakeholders. The advisory body will help shape the design, development and operation of the UK’s real‑time gross settlement (RTGS) and CHAPS payment systems, meeting at least three times a year with terms up to three years. Applicants do not need to be current RTGS participants, and nominations close on 17 April 2026.

Pulse Analysis

The Bank of England’s decision to establish a dedicated RTGS CHAPS Industry Forum reflects a broader shift toward collaborative governance of critical payment infrastructure. Real‑time Gross Settlement (RTGS) and the Clearing House Automated Payment System (CHAPS) underpin the speed and security of high‑value UK transactions, from corporate cash management to interbank settlements. By formalising a structured dialogue with seasoned executives, the Bank aims to embed industry insights into policy, ensuring that operational resilience keeps pace with evolving risk landscapes and technological advances.

Unlike the previous Strategic Advisory Forum, the new body expands its reach beyond existing RTGS participants, inviting fintech innovators, large corporates and other financial institutions to contribute. This inclusive approach broadens the perspective on emerging use cases such as instant corporate payments, digital currency integration, and API‑driven settlement services. Members will provide candid feedback on strategic direction, change delivery, and day‑to‑day operations, while the Bank maintains ultimate decision‑making authority. The three‑year tenure and tri‑annual meetings create continuity without entrenching any single viewpoint, fostering a dynamic exchange that can adapt to rapid market shifts.

For the payments ecosystem, the forum represents a conduit for shaping standards that affect liquidity management, settlement risk and cross‑border payment efficiency. Industry participants who secure a seat can directly influence policy that may lower operational costs, accelerate innovation, and enhance the UK’s competitiveness as a global financial hub. Even organizations that do not join can benefit from the transparency of meeting summaries and the broader consultation mechanisms the Bank employs. Stakeholders should therefore monitor the forum’s recommendations closely, as they are likely to inform upcoming regulatory adjustments and technology roadmaps for the nation’s payment backbone.