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Abdallah Al Twaiqat

Chief Information Officer, Jordan Payments & Clearing Company (JoPACC)

Abdallah has been working at JoPACC (a company owned by the Central Bank of Jordan and Jordanian Banks) for 5 years, heading the Software development department and, recently, leading the Jordan Open Finance Technical specification taskforce, aiming to standardize the APIs and technical specifications in Jordan.

As part of his role, Abdallah is responsible for the in-house development, low-level design and data flows of value-added services provided to different stakeholders.

Additionally, Abdallah was one of the core team members responsible for the Instant Payment System (CliQ) deployment in Jordan, and the electronic Know Your Customer (eKYC) Project.

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Roundtable Room 1 (Level 2)

Decoding Digital Assets and Payments

Wed, 03 Jul | 01:30PM - 03:00PM

The future blueprint for cross-border payments: Sending money around the world in seconds

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This roundtable reflects Elevandi’s commitment to developing the infrastructure to support the adoption of new technologies.

The quest for cheaper, faster, more transparent and accessible cross-border payments has become a central focus for policymakers and financial institutions worldwide. At the forefront of this initiative is the G20 Roadmap for Enhancing Cross-border Payments, setting ambitious targets on speed, cost, transparency and accessibility by the end of 2027, while also prioritising safety and financial inclusion globally.

In tandem with this global effort, the Bank for International Settlements (BIS) introduced Project Nexus in 2021, an innovative initiative aimed at reshaping the landscape of cross-border payments. Through Nexus, the BIS has developed a multilateral and standardised approach in connecting fast payment systems globally to enable instant and seamless cross-border payments. Over the past two years, Project Nexus has conducted a successful proof-of-concept with the fast payment systems in the Eurozone, Malaysia, and Singapore. Notably, it has also facilitated collaboration among five Southeast Asian countries to link their fast payment systems.

With the completion of Phase III of Project Nexus, it promises to reveal ground-breaking advancements towards establishing a global multilateral payments platform. Under the theme of Decoding Digital Assets and Payments, this upcoming roundtable presents a rare opportunity for attendees to gain insights into the blueprint for this pioneering cross-border payments model. With the potential to revolutionise the current state of the global financial market infrastructure, Project Nexus is poised to redefine the future of cross-border transactions.

Attendees who wish to familiarise themselves with the topic may refer to the reference materials below.
- Nexus project page
- Latest (2024) Nexus report
- Enabling & scaling instant cross-border payments
- Connecting to global scalability in payments: How we can benefit and contribute to the nexus
- Nexus: enabling instant cross-border payments