Third parties often develop RTGS technology
Seventy-one percent of respondents said technology underpinning RTGS system was developed by a third party
Developing real-time gross settlement (RTGS) systems is a huge undertaking for an individual central bank.
These payments systems are central to the stability and efficiency of financial markets around the world. While in the past central banks have created and managed RTGS infrastructure, more recently central banks have turned to the private sector.
According to Central Banking’s Payments Benchmarks 2021, of the thirty-four central banks that provided data, 71% said their jurisdiction’s
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