Recent years have seen regulatory attention shift from a focus on stability to providing the foundation for competition and innovation. This shift has dynamically impacted the way that payments firms invest, grow and deliver good outcomes for UK consumers and businesses.

This report, in association with the Payments Association and Latham & Watkins, explores the impact of regulation and outlines how industry, lawmakers and regulators can work together to strengthen and enhance the country's payments infrastructure and regulatory and supervisory frameworks, following both Brexit and in light of the expanding digitalisation of the economy.

In looking at the way payments have increasingly moved online, we explore how regulatory priorities must continue to shift to support market innovation and enable the use of new technologies. Through this, we identify opportunities that lawmakers, regulators and industry may wish to take advantage of from the opportunities of digital identity, the international investigation of CBDCs and other digital currencies through to the importance of SEPA access to UK firms and our ongoing monitoring of EU payments developments.