[Podcast episodes](https://www.payments.ca/insights/news-research?field_article_type=27) # Episode 19: Modernizing high-value payment systems October 1, 2021 Jurisdictions around the world are modernizing their high-value payment systems, with ISO 20022 as a key driver. Canada is keeping pace. Lynx, Canada’s new high-value payment system, launched in August 2021. To put this landmark development into a global context, this episode of The PayPod will revisit a discussion from The 2021 SUMMIT that features an overview of the high-value payment system work under way in three different jurisdictions: the U.K., Europe and the U.S. Where to Listen: [ ![Spotify logo](/sites/default/files/2022-07/spotify-logo.png) ](https://open.spotify.com/show/35GjwRJtJvT7J0ePewUHWw?si=8a0d2ef25ed94cd6)[ ![Apple podcast logo](/sites/default/files/2022-07/apple-podcast-logo.png) ](https://podcasts.apple.com/us/podcast/the-paypod/id1369249147?uo=4) Guests Jean Clement, Advisor, Payments Systems, [European Central Bank ](https://www.ecb.europa.eu/home/html/index.en.html) Richard Dzina, SVP, [The Clearing House](https://www.theclearinghouse.org/) James Southgate, Senior Manager, RTGS Renewal Programme, [Bank of England](https://www.bankofengland.co.uk/) Mike Hoganson, Director, Modernization, Payments Canada [Listen to the episode](https://open.spotify.com/episode/5filEvJABmZe3TsKvV0mZM?si=1160f2bce94945a5) Transcript of the recording **Cyrielle Chiron:** In the last few years, Denmark, Iceland and New Zealand replaced their Real-Time Gross Settlement Systems, with ISO 20022 top of mind. In November 2021, the European Union will be following suit, with South Africa, Australia, the United Kingdom and United States also replacing or upgrading. And Canada is keeping pace. On September 1 2021, Payments Canada announced the launch of Lynx, Canada’s new high-value payment system. Lynx processes large value, time-critical payments with real-time settlement finality and provides enhanced cyber security and resiliency capabilities. Lynx has been designed with flexibility to support future technologies, including APIs. A major driver for modern payments is ISO 20022. This new messaging standard will enable interoperability, harnessing rich data and creating new services that drive value for users. I’m Cyrielle Chiron, Chief Strategy Officer at Payments Canada and host of The PayPod. In this episode, we’re going to put modern high-value payment systems in a global context by revisiting a discussion from The 2021 SUMMIT, where leaders from the U.K., Europe and the U.S. provide an update on high-value payments work going on in their jurisdictions. We’ll hear about opportunities, challenges and lessons learned that each have experienced, or are experiencing, in their journey to processing modern high-value payments. Featured in the recording are Jean Clement, Advisor, Payments Systems at the European Central Bank; Richard Dzina (pronounced Zina), Senior Vice-President at The Clearing House; and James Southgate, Senior Manager, RTGS Renewal Programme at the Bank of England, and Mike Hoganson, Director of Modernization from Payments Canada is our moderator. Let’s listen in to the discussion: **\[Edited recording of The SUMMIT Series webinar\]** **Cyrielle Chiron:** Mike emphasized how leading up to the launch of Lynx, it was important to work closely with key partners to ensure a successful implementation. We can see, too, how collaboration across jurisdictions is key to success, so that we can learn from each other’s journeys and work in alignment with modernization efforts from around the globe. The launch of the first release of Lynx puts Canada at the forefront of high-value payment modernization, ensuring our readiness to support ISO 20022. And as Jean Clement said, ISO 20022 is not the end; it’s the beginning and a building block for so much more. Thank you for joining me today for this episode of The PayPod as we share discussions taking place across the payments ecosystem. Stay connected to the latest news in payments by signing up for The Exchange, Payments Canada’s newsletter, on payments.ca and register for our annual conference, The Payments Canada SUMMIT at [thesummit.ca](https://www.thesummit.ca/). I'm Cyrielle Chiron, thanks for tuning in! [Return to newsroom](https://www.payments.ca/insights/news-research) ## Keep reading [ ![Podcast recording equipment](/sites/default/files/styles/article/public/2026-07/PayPod_cover-2.png?h=8ede681f&itok=dfWBLnIZ) Podcast episodes August 26, 2026 ### Episode 47: The business case for overlays — building value on... The launch of the Real-Time Rail (RTR) is on the horizon. The use cases are well known. We know how settlement and funding works. But the question remains, how will consumers or businesses initiate a... ](https://www.payments.ca/episode-47-business-case-overlays-building-value-real-time-rail)[Learn more](https://www.payments.ca/episode-47-business-case-overlays-building-value-real-time-rail) [ ![Podcast recording equipment](/sites/default/files/styles/article/public/2026-07/PayPod_cover-2.png?h=8ede681f&itok=dfWBLnIZ) Podcast episodes August 19, 2026 ### Episode 46: Finding your path in Canada’s payment ecosystem Canada’s payment landscape is rapidly transforming, offering a growing range of participation options for emerging players. This session explores how organizations can effectively navigate the... ](https://www.payments.ca/episode-46-finding-your-path-canadas-payment-ecosystem)[Learn more](https://www.payments.ca/episode-46-finding-your-path-canadas-payment-ecosystem) [ ![Podcast recording equipment](/sites/default/files/styles/article/public/2026-07/PayPod_cover-2.png?h=8ede681f&itok=dfWBLnIZ) Podcast episodes August 12, 2026 ### Episode 45: Takin’ care of business (every working hour) — The... Canada is flipping the switch on 24/7 banking, but the real challenge isn’t the tech; it’s the strategy. When the "9-to-5" window closes for good, how does your institution stay ahead? In this episode... ](https://www.payments.ca/episode-45-takin-care-business-every-working-hour-rtr-reality)[Learn more](https://www.payments.ca/episode-45-takin-care-business-every-working-hour-rtr-reality)