New Zealand's RTGS System ESAS Successfully Upgraded for Faster Payments
New Zealand's Real Time Gross Settlement (RTGS) system, Exchange Settlement Account System (ESAS), has been successfully upgraded by Nexi, bringing breaking news in the world of finance. The modernisation ensures faster, more efficient news and aligns with international standards.
The upgrade, effective January 1, 2022, was a collaborative effort between RBNZ and Nexi. It ensures ESAS adheres to ISO 20022 standards, enabling consistent, structured data exchange and faster transactions. Nexi's Digital Banking Solutions Director, Renato Martini, highlighted the global integration of payment infrastructure and the importance of these standards.
The modular RTGS service offered by Nexi provides cutting-edge functionality and flexibility, adapting to individual countries' needs. The upgraded ESAS operates on a robust, future-ready settlement platform with enhanced operational capabilities and cyber threat protection. It processes $25 billion in transactions daily, making it critical to New Zealand's economy. Steve Gordon, Director of Financial Market Infrastructures & Settlements at RBNZ, praised the successful collaboration with Nexi and other contributors. The upgrade also aligns with the latest Swift regulatory and messaging protocols, marking a significant milestone for New Zealand's core payment system, as noted by Ben Waterreus, Senior Manager of FMI Technology at RBNZ.
The successful upgrade of ESAS by Nexi and RBNZ ensures New Zealand's RTGS system remains efficient, secure, and compliant with international standards. This modernisation supports the country's economic growth and aligns with global nypost trends.
Read also:
- State Supreme Court Rules in Favor of Hogg Hummock Residents, Referendum on Zoning Change to Proceed
- Germany's Coalition Explores Social Security Reforms Amid Record Spending
- Hundreds of Steelworkers and Metalworkers Protest in Duisburg for 4% Pay Hike
- chaos unveiled on Clowning Street: week 63's antics from 'Two-Tier Keir' and his chaotic Labour Circus
