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Why is it necessary to renew RTGS? Renewing the service is necessary because the way payments are made has changed dramatically in recent years, reflecting changes in the needs of households and companies, changes in technology, and an evolving regulatory landscape.
- RTGS career opportunities - Bank of England
RTGS infrastructure settles over £720 billion a day, which...
- The renewed RTGS service – key benefits - Bank of England
RTGS is currently being renewed, with industry and for...
- RTGS career opportunities - Bank of England
Oct 18, 2024 · RTGS is currently being renewed, with industry and for industry, to respond to the changing payments landscape. From Spring 2025, the renewed RTGS service will deliver a more resilient, flexible and innovative sterling settlement system to support monetary and financial stability.
The renewed RTGS is being built in a modular way to make it easier to add new functionality, and is a platform for future innovation. The Roadmap for Real-Time Gross Settlement service beyond 2024 consultation seeks views on what the future functionality of RTGS could include once the new core settlement engine has been introduced in spring 2024.
Sep 5, 2023 · Resilient channels will examine how RTGS can connect with new networks beyond SWIFT to support greater resilience and allow more choice for firms. Currently, the new RTGS service will support the SWIFT GPI (global payments innovation) service, to allow track and trace of payments for CHAPS members.
RTGS Renewal programme update The Bank of England announced a plan to replace the existing CHAPS system. Our vision is to develop an RTGS service which is fit for the future, enabling improved resilience, enhanced user functionality and access, wider interoperability and strengthened end-to-end risk management of the UK’s High Value Payment ...
The RTGS Renewal Programme hosted its latest all-industry briefing at the Bank of England on the afternoon of 13 January 2020. 121 delegates attended from 73 organisations to hear updates on the Programme's progress over the past six months.
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Aug 29, 2024 · Following extensive industry engagement, the vision for the renewed RTGS service is to increase resilience and access, offer wider interoperability, improve user functionality and strengthen the end-to-end risk management of the UK high value payment system.
