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Real Time Gross Settlement – Introduction
Introduction
In the area of Real Time Gross Settlement ‘RTGS’,
our initial work was carried out during the early 1990s. In
Europe, our company provided consultancy expertise to the
American Corporation Wang. This
work was concerned with the development of interfaces based
on S.W.I.F.T. interface technology
‘SAFE’. |
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| We were involved in the development
of an interface to the Swiss Inter-bank
Clearing System ‘SICS’. In addition (in a
parallel development), in the Far East one of our partners was
involved with the regions’ Central Banks on planning initial
RTGS systems. |
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Eastern
Europe and Russia
In the following years, we worked in Albania
where we were heavily involved in initial planning of national
payment strategy focusing on RTGS developments. We were then
retained by the Unisys Corporation to carry out a comparison
study of the American Fedwire systems and ‘SICS’. |
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| This work developed into a strategy
for high value payment system developments within Croatia
and the Russian Federation. In
the latter, we provided expertise for the creation of both funds
transfer and RTGS facilities that would cover the Russian Federation
for the Savings Bank in that country. |
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North America
Senior EpayCom consultants were involved with the design team
of a national High Value Settlement system for Canada.
The design team was a multi-discipline group comprising hardware,
telecommunication and banking software experts. Working closely
with the Bankers Association, the team was required to create
a high value payment system to support treasury activities in
the leading Canadian financial institutions. Both domestic and
international payments were allowed for in the final design. |
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The Middle
East
In the late 1990s the company worked with the Central
Bank of Kuwait. A series of workshops were created and
delivered to the Bank that assisted them in preparing for their
RTGS developments. These workshops were followed up when the
Bank began the procurement process. Together with a software
partner, EPayCom created detailed specifications and an actual
software prototype.
During this period, the company was also supporting the Central
Bank of Jordan in the procurement of systems to support
its Real Time Gross Settlement implementation. Our consultants
were involved in the development of the business requirements,
the creation of tender documentation, the initial vendor assessment
and assisting the Central and Commercial Banks in their internal
operational and technical preparations. The project was managed
for the International Monetary Fund. |
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