New Zealand's ESAS RTGS System Successfully Upgraded for Enhanced Security and Efficiency
New Zealand's Real Time Gross Settlement (RTGS) system, ESAS, has been successfully upgraded by Nexi and the Reserve Bank of New Zealand (RBNZ). The upgrade aligns with the latest Swift regulatory and messaging protocols, bolstering cybersecurity and ensuring compliance with ISO 20022 standards.
ESAS, processing $25 billion in transactions daily, plays a vital role in New Zealand's economy. The upgrade, led by Nexi's Digital Banking Solutions Director Renato Martini, ensures faster and more efficient news with consistent, structured data exchange. Nexi's modular RTGS service, flexible to individual countries' needs, was integral to this success.
Steve Gordon, Director Financial Market Infrastructures & Settlements at RBNZ, praised the collaboration with Nexi and other contributors. Ben Waterreus, Senior Manager FMI Technology at RBNZ, hailed the upgrade as a significant milestone for New Zealand's core payment system. The modernized ESAS now operates on a robust, future-ready settlement platform, enhancing operational capabilities and transaction efficiency.
The successful upgrade of ESAS, a critical component of New Zealand's financial infrastructure, ensures the country remains at the forefront of global payment news. With enhanced security, efficiency, and compliance, ESAS continues to support New Zealand's economy effectively.
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