The Road to an Open Payment Platform: Making the Most of BOJ-NET

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1 August 2017

Celent examines initiatives to accelerate the development of Japan’s payments infrastructure through the lens of the BOJ-NET.

Key research questions

  • What are the ultimate aims and characteristics of the new BOJ system?
  • What are common challenges faced by major financial institutions offering payment services?
  • What should banks do to realize the potential of the new BOJ payment platform?


The value offered by payment and settlement services was rooted in supplying services that ensure secure and certain transmission of electronic messages. The internal processes of settlement (such as transaction banking) have been bifurcated into a standardized back end and customized front end. The internal processes dedicated and tailored to external connections will ultimately be outsourced. For customers, the added value is in bringing diversity, convenience, and innovation to the point of engagement. For banks the value lies in connections to financial market infrastructure; moving forward, cost optimization will dictate a shift to outsourcing and/or use of utility services.