The National Audit Office (NAO) has published a study examining the Bank of England’s (BoE) Real-Time Gross Settlement (RTGS) renewal programme, which is a critical part of the UK's national infrastructure for payment services. The RTGS system processes around £750bn worth of transactions daily and is being renewed to accommodate new banks, payment providers and technologies. Scheduled for introduction in Spring 2025, the NAO's study focuses on whether the BoE has managed the programme effectively and efficiently, ensuring resilience to future developments and risks. The study evaluates the BoE 's vision, strategy, governance, and adaptability, as well as its application of lessons learned to future digital transformations. The NAO team, led by Director Simon Reason and Senior Audit Manager Natalie Low, aims to provide insights into the effectiveness of the RTGS renewal and its broader implications for the BoE's operations.