Looking ahead to 2026, we can expect steps forward in several key areas, notably in the global stitching of instant payments and the maturation of digital currencies and AI, converging to redefine what is possible in financial services.

Modernising messaging beyond compliance

The official retirement of SWIFT’s MT format in November 2025 finally came to pass. Now, the challenge moves from achieving basic compliance to truly taking advantage of the structured data power of ISO 20022.

The long-awaited full potential of granular remittance information, enhanced compliance metadata, and superior reconciliation, remains untapped if back-office legacy systems and correspondent relationships aren’t fully modernised.

In 2026, the industry focus will move beyond basic technical compliance to fully operationalising the ISO 20022 standard.

Organisations must update back-office systems, legacy infrastructure, and correspondent-bank relationships if they are to unlock the full potential of the richer MX data.

This means moving past mere format translation to leveraging structured remittance details and cleaner compliance metadata for tangible benefits, such as superior transparency, automated reconciliation, and enhanced regulatory reporting.

To achieve this, institutions require flexible, adaptable platforms that will enable them to go beyond a mandatory regulatory transition and find strategic opportunities for data-driven innovation.

Instant payments go global

The domestic instant payment revolution, led by systems like India’s UPI and Brazil’s Pix, is now entering its cross-border phase, with initiatives like the Bank for International Settlements’ Nexus project designed to standardise the way that instant payment systems connect to each other.

Rather than a payment system operator building custom connections for every new country that it connects to, the operator can make one connection to the Nexus platform.

We are entering a world where moving fiat currency across borders can be as seamless as sending a domestic payment, potentially in seconds and at low cost. This disrupts traditional correspondent banking and creates opportunities for businesses and consumers alike.

AI moves from experimentation to integration

There is a spread when it comes to organisational readiness for AI and many are moving out of exploration and into implementation, albeit via piecemeal pilots in many cases.

Seventy-two per cent (72%) of enterprises are making AI a top priority and increasing their investment by almost a third in the next year according to recent Red Hat data, yet 7% still aren’t generating customer benefit at scale.

In 2026, I expect to see a significant rise in the deployment of targeted AI use cases within payments, and I hope to see organisations moving away from silos and towards a unified platform that is accessible for all teams and can offer the consistency and control needed to build, deploy, and manage AI with any hardware, any model and any cloud.

For more than 90% of respondents to our survey, enterprise open source is part of the solution here.

In the coming months, Agentic AI will begin to move beyond proofs-of-concept into areas like intelligent, self-optimising payment routing and sophisticated, real-time fraud detection systems.

The focus will be on smaller, more efficient models (SLMs) tailored to specific tasks like payment remediation or data correction, prioritising explainability and control.

Regulatory frameworks, particularly the EU AI Act, will shape this adoption, emphasising the need for transparent, robust, and fair AI.

The infrastructure supporting this must allow for flexible deployment, training on synthetic data in the cloud while running inference on sensitive financial data on-premises, a core strength of hybrid cloud architectures.

Stablecoins, CBDCs, and sovereignty

2026 is poised to be a decisive year for digital currencies. The regulatory landscape, exemplified by the EU’s MiCA and the US stablecoin legislation, is providing the “rules of the game,” leading to increased institutional engagement.

The critical question will be which models gain mainstream traction, bank-issued money tokens, asset-backed stablecoins, or Central Bank Digital Currencies (CBDCs).

This debate will be underpinned by digital sovereignty. Whether for a CBDC or a critical national payment system, control over the underlying infrastructure is paramount.

Nations and central banks cannot have dependencies on technology stacks or operational control residing in foreign jurisdictions when managing monetary sovereignty.

The regulatory impetus shaping payments

Decisions like the UK’s move towards regulatory parity with US stablecoin rules highlight a key theme for 2026: harmonisation efforts to ensure market stability as digital assets blur geographic lines.

Crucially, regulations are defining more than compliance checklists, they are influencing the economic models of new currency forms.

The requirement to back stablecoins with high-quality liquid assets, for instance, directly links technological adoption to monetary policy and national balance sheets.

Adapt fast or be displaced – embrace open

For someone who has been in payments for many years, the outlook for 2026 is very exciting. We are witnessing a moment of simultaneous evolution across messaging, networks, assets, and intelligence.

I am especially keen to see how the connected instant payment landscape matures and what reactions it sparks in the Americas.

The digital currency space, above all, promises compelling developments as the theoretical debates of recent years yield to concrete pilots and policy decisions.

The payments market has transformed from a world of “if it works, don’t fix it” to one of “adapt or be displaced.”

This constant change, driven by technology, is reshaping how the world moves value. Navigating this requires a balanced focus on relentless innovation and uncompromising resilience. That is the challenge and the opportunity that makes 2026 such a compelling chapter to anticipate, and calls for platform technology that is not only performant and reliable but also inherently interoperable and sovereign.

This is where open source shines, offering transparency, flexibility and freedom to choose provider and geographic location.

Vendor-backed enterprise open source builds on community innovation with added security focus, lifecycle management, compliance, and technical support that business-critical workloads demand.

Institutions must therefore choose technology partners that offer the agility to adapt to this evolving regulatory tapestry without compromising on stability.

She said: 

“It will be a journey and we will walk the journey together with the legislator. All European Institutions will be involved to make sure that Europe is equipped with the currency of the future. Cash is here to stay. You will have all options: cash and digital cash. 

So what does it mean for you? For Consumers, it would be free and easy to use everywhere in the Euro area. All of that, of course, is subject to the legislative process.

Cash or digital, the choice will be yours.”

This development has ignited discussions about the potential impact of CBDCs on the tech industry. 

Proponents believe CBDCs could enhance innovation and financial inclusion, while skeptics warn they could limit competition and lead to privacy concerns.

Understanding CBDCs

Central bank digital currencies (CBDCs) are digital versions of traditional fiat currencies issued and controlled by central banks. Unlike physical cash, CBDCs exist solely in electronic form. 

Several countries, including Nigeria, England, Sweden, and Uruguay, have explored launching digital versions of their currencies.

Nigeria and the eNaira

Nigeria became the first African country to launch a CBDC, the eNaira, in October 2021. The Central Bank of Nigeria (CBN) aimed to improve financial inclusion, combat money laundering, and promote digital payments with the eNaira.

However, these moves have led to increasing concerns. Nigerians have mixed reactions to the eNaira, the country’s CBDC. Supporters of the eNaira believe it can bring financial services to the unbanked population, many of whom rely on mobile phones. Fintech companies can create eNaira-based wallets and apps to make financial services more accessible.

They also argue that the eNaira can offer faster, cheaper cross-border transactions and reduce the risks associated with handling cash.

Nonetheless, critics say despite government incentives, adoption has been slow. Some Nigerians prefer the familiarity and privacy of cash. The long-term impact on traditional banks is not very clear, potentially discouraging tech investment in the financial sector and lastly, as with any digital currency, data privacy surrounding eNaira transactions is a worry.

Nigerians have protested government efforts to limit cash availability, viewing it as a push towards a cashless society. They see the eNaira as part of this effort and prefer the freedom and anonymity of cash.

What are People Saying about EU’s Digital Euro?

The announcement of the European Union’s new Central Bank Digital Currency (CBDC), the digital euro, led to a range of responses, showing concerns and skepticism about the implications of CBDCs for individual freedoms and privacy.

One common concern expressed by critics is the potential for CBDCs to centralize power in the hands of unelected technocrats, enabling them to exert control over how, when, and where the digital currency can be spent. 

This control could extend to the implementation of social credit systems, carbon allowances, and vaccine passport systems, raising fears of increased surveillance and erosion of personal autonomy.

There is also skepticism regarding assurances that physical cash will remain a viable option alongside CBDCs. Critics argue that proponents of CBDCs may have intentions to gradually phase out cash altogether, leading to further concerns about loss of financial freedom and privacy.

Critics also highlight historical context, such as the European Union’s drive towards ever closer union and control by bureaucrats, as evidence of a broader agenda aimed at centralizing power and control. 

This perspective challenges the notion that the EU is solely focused on good intentions, suggesting instead that it may serve interests that prioritize centralized control over individual autonomy.

Concerns about recourse in situations where banks refuse transactions or restrict spending highlight anxieties about potential abuses of power in a cashless society. Without the option to withdraw physical cash, individuals may feel vulnerable to arbitrary restrictions on their financial freedom.

In light of these concerns, some voices call for resistance against CBDCs and the perceived digital open-air prison they represent. They speak of the urgency in safeguarding individual freedoms and privacy in the face of technological advancements that have the potential to affect societal structures and power dynamics.

Let’s take a quick look at the potential benefits of CBDCs:

• Enhanced Efficiency: CBDCs could simplify cross-border payments, reducing transaction costs and settlement times for tech companies reliant on international transactions.
• Innovation Catalyst: A CBDC industry could spur the development of new financial products and services. Tech firms could leverage CBDCs to create innovative payment solutions, lending platforms, and loyalty programs.
• Financial Inclusion: CBDCs could provide access to financial services for the unbanked population, promoting financial inclusion. Tech companies could play a role in developing user-friendly CBDC wallets and applications.

However, CBDCs also present potential challenges for the tech industry:

• Disintermediation: CBDCs could disintermediate traditional financial institutions, potentially reducing the need for some financial technology (Fintech) companies.
• Competition: Central banks could choose to limit private sector involvement in the CBDC industry, hindering innovation and competition.
• Data Privacy: The data collected through CBDC transactions could raise privacy concerns. Tech companies involved in developing CBDC solutions would need to ensure strong data security measures are in place.

The Future of CBDCs and the Tech Industry

Ultimately, the debate surrounding CBDCs brings about deeper questions about the balance between convenience and control, individual freedom and centralized authority. 

Policymakers and citizens alike need to engage critically and thoughtfully to ensure that any digital currency initiatives serve the interests of the people while upholding principles of transparency, accountability, and individual autonomy.

The impact of CBDCs will depend on the design and implementation of CBDC systems by central banks. Nevertheless, CBDCs can impact the financial industry, presenting both opportunities and challenges to the tech sector.