Milan and Wellington, April 18 2016 – The Reserve Bank of New Zealand (RBNZ), New Zealand’s central bank, has chosen SIA – European leader in technology infrastructures and services for financial institutions, central banks, corporates and public administration bodies – to implement and support anew Real-Time Gross Settlement (RTGS) system replacing the current Exchange Settlement Account System (ESAS).
The Real-Time Gross Settlement (RTGS) is a system that electronically streamlines the settlement of large-value transactions between banks.
SIA will use its wholly-owned subsidiary Perago, based in Pretoria (South Africa), specialized in central banks solutions.