The Central Bank of Iceland (CBI) and SIA, a European hi-tech company in payment services and infrastructures, have gone live with the new real-time gross settlement system (RTGS) and the new instant payment platform.
The new payments system is a more strategic and modern infrastructure and enables closer cooperation with other central banks.
CBI manages all interbank payments in the country: it currently processes up to one million payments with peaks of 160,000 per hour despite the small population of just over 365,000.
- Maddie Saghir
- Asset Servicing Times