Central Bank of Iceland launches with SIA the new instant payment platform

3 decembrie 2020

The new system has been developed in order to manage up to 5 million payments per day and each transaction is on average processed in less than 40 milliseconds.

The Central Bank of Iceland (CBI) and SIA, a leading European hi-tech company in payment services and infrastructures, controlled by CDP Equity, „have gone live with the new real-time gross settlement system (RTGS) and the new instant payment platform,” according to a press release.
 
The Central Bank of Iceland manages all interbank payments in the country: it currently processes a fairly significant daily volume of transactions – up to 1 million payments with peaks of 160,000 per hour – despite the small population of just over 365,000 inhabitants.


„CBI implemented an innovative single platform developed by SIA which processes all types of payments (Bank to Bank, P2P, P2B and B2B) resulting in a consolidated operating model and in a higher level of efficiency in the whole country,” the company said.
 
An efficient and secure payment system is one of the prerequisites for smooth, normal business transactions in a modern economy. We need to use the best available tools at all times, and we are delighted with the implementation of the new interbank payment system from SIA,” says Sturla Pálsson, Director for Markets Department of the Central Bank of Iceland.
 
“The successful go-live for the new interbank payment system of the Central Bank of Iceland confirms our strong partnership with Central Institutions to deliver secure, mission-critical and high-performance platforms and to enable challenging digital transformation programs in the payments ecosystem. SIA is continuously using its innovation capabilities to extend the opportunities for Central Institutions to target new frontiers of instant payments, interoperability with different market infrastructures and services, account to account payments and digital currencies” stated Eugenio Tornaghi, Marketing & Sales Director of SIA.

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Gabriela Nistor – director general adjunct BT

Tendinţele pe care le-am remarcat înainte de începerea pandemiei s-au accelerat pe perioada stării de urgenţă. Am văzut acest lucru ca o oportunitate, un tipping point pentru bancă. Post-pandemie nu avem cum sa ne întoarcem la comportamentul financiar pe care îl aveam până în februarie a.c. Relaţia românilor cu online-ul s-a schimbat. In plus, cardul fizic se va dematerializa. Vom asista la o scădere a cererii pentru cardurile fizice, respectiv la o creştere a preferinţei pentru componenta digitală a acestora.”

Sondaj

In 23 septembrie 2019, BNR a anuntat infiintarea unui Fintech Innovation Hub pentru a sustine inovatia in domeniul serviciilor financiare si de plata. In acest sens, care credeti ca ar trebui sa fie urmatorul pas al bancii centrale?