IBS Journal May 2016 T
07
he New Zealand central bank went to public
tender for this last year after bringing in Ernst & Young to undertake a strategic review of its payments and securities settlement platforms. This recommended the implementation of a RTGS system and the sale of the NZClear security settlement and depository business, although RBNZ recently said it would keep and upgrade the latter after a tender failed to attract suitable bids.
Deputy Governor Geoff Bascand comments: “Our preferred approach was to find and use an existing off-the-shelf system rather than build a new bespoke system. The contract with SIA achieves that goal. The Perago RTGS system has a rich list of features that we can consider for deployment. We sought a system with substantial processing capacity and the Perago solution will allow for significant volume growth and high throughput rates.”
The functionality of the existing ESAS system will largely be incorporated into the replacement, including auto-overnight reverse purchase of eligible securities, tiered interest, authorisation and liquidity management features, and key interfaces to the Swift messaging system. “After an initial planning phase, we expect to start settling on options and features in the second half of this year, with installation of the new RTGS to follow,” says Bascand.
The Perago system means RBNZ will also replace its underlying payment systems IT infrastructure, which is currently integrated with its corporate IT infrastructure. Massimo Arrighetti (pictured), CEO of SIA, says: “With RBNZ, the number of central banks in the world which have decided to use SIA’s technologies to develop their own payment infrastructures has risen to 14, across Europe, Africa, the Middle East, and now also Oceania.”
Backbase builds new Kazakhstan bank
launched, targeting Millennials. A subsidiary of Halyk Bank, it has gone live with an online and mobile offering, powered by Backbase. It aims to offer account opening, debit cards, deposits and payment services – and at a later stage – consumer loans, mortgages, credit cards.
A
Askar Smagulov, CEO of Altyn Bank, says: “We are truly committed to offering our customers the flexibility, convenience and fast service, so we created a digital banking model to enable just that. Thanks to our new technology and structure, we now have the ability to react quickly to customer demand, so we’re excited to launch Altyn-i to allow our clients to progress with online banking, and keep on top of their finances wherever they are, and at all times.”
Jouk Pleiter, CEO of Backbase, adds “Altyn Bank is taking full advantage of the potential of online and mobile channels, and working with a bank that shares our vision for digital transformation is incredibly exciting. Altyn-i is
ltyn-i, a Kazakhstan-based digital bank, has
a solution to increasing demand for customer-centric, omnichannel experiences, and we’re delighted that the visionary Altyn team partnered with Backbase to build a solid digital banking platform to win the battle for the millennial market.”
Scott Thompson
www.ibsintelligence.com
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