derville rowland : launch of ireland's national payments strategy remarks by ms derville rowland, deputy governor of the central bank of ireland, at the launch of the national payments strategy, dublin, 15 october 2024. * * * i would like to welcome the minister for finance - minister jack chambers td - and everyone here today to the central bank's offices for the launch of the national payments strategy. let me also echo the minister's thanks to all involved in the development of the strategy. in particular, i would like to thank the department's strategy team for their collaboration over the past 16 months, and for providing the central bank with the opportunity to contribute to the development of the strategy. my thanks also to the members of the central bank's payments steering group and the internal expert group who has been supporting the our input into the strategy. call for collaboration the national payments strategy represents a significant milestone for the future development of the irish payments ecosystem. the central bank looks forward to contributing to the successful realisation of the strategy over the next 5 years and beyond. we see the strategy as an opportunity to : ensure that the irish market stays up - to - date with modern payment functionalities and technologies ; put in place initiatives that strengthen the security and resilience of retail payments ; and to ensure that the irish payments ecosystem remains interconnected with the rest of the europe. as the minister has referenced, the strategy outlines a number of ambitious actions that will lay the foundation for the future growth of the irish payments ecosystem. in terms of specific actions i would call out, i would highlight that : the strategy will require cooperation in the advancement of pay - by - account solutions built upon the effective implementation of instant payments and open banking ; and a role for the central bank around a research and insights programme that we will lead. enhancing our research and analytical capabilities is critical to understanding the direction and possible impacts of the future evolution of the irish payments ecosystem. fraud 1 / 3 bis - central bankers'speeches another area i will highlight and that relates to the issue of fraud. this is an issue which cuts right across the work of the central bank – from consumer protection, to our work in payments and to our financial integrity / aml work. whilst the volume of payments fraud is quite low in ireland as a percentage of total transactions, nevertheless it can have a detrimental impact on individuals and businesses. as payments evolve, so too do the techniques used by fraudsters. the rise of social engineering

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