Nexi, a European paytech company, in partnership with the Reserve Bank of New Zealand (RBNZ), has enhanced the country’s Real Time Gross Settlement (RTGS) system, known as ESAS, to comply with Swift standards.

Aligning with ISO 20022 Standards

This upgrade, which took four years to complete, enables more efficient payments through the exchange of consistent and structured financial information. The update ensures that ESAS operates on a contemporary settlement platform, enhancing operational capabilities, transaction efficiency, accuracy, interoperability, and security against cyber threats.

RBNZ representatives highlighted that this upgrade is a significant step for New Zealand’s core payment and settlement system. By aligning with global standards, the system strengthens the integrity and performance of the country’s financial infrastructure.

Nexi’s Modular Service

As part of its services, Nexi offers a modular RTGS solution tailored to the unique needs of individual countries. The collaboration with RBNZ marks the fifth implementation of Nexi’s RTGS system globally, affirming its presence in the international financial landscape and reinforcing global market stability.

Looking ahead, Nexi aims to continue working on RTGS implementations as more financial institutions adopt ISO 20022 for cross-border payments.