P27 is arguably the most ambitious payments modernization project in the world, addressing multiple payment types, various clearing and settlement mechanisms, and most challenging of all, multiple currencies. And interestingly, not driven solely by financial institutions. The rest of the world is watching as the Nordics act as an icebreaker for this level of payments innovation and industry collaboration. So, what can be learnt from this seismic market shift? This session will address the age-old question of regulation versus competition in payments innovation, as well as discuss how other pan-regional systems may begin to emulate P27 successes.