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The three private sector firms owned by member banks are developing the pilot as part of their immediate cross-border (IXB) initiative to enable faster, smoother global money transfers by tapping options available in domestic payments. The initial proof of concept was finished last October with input from seven banks. Eleven financial institutions participated in the design of the system.
“Aside from delivering a simple and transparent service for end users, our key aim is to keep things easy for financial institutions: the fact that there is no need to connect to a separate payment system should make the service very attractive for RT1 and RTP participants of all sizes,” said Erwin Kulk, Head of Service Development and Management at EBA CLEARING.
https://www.pymnts.com/news/faster-payments/2022/ixb-payments-pilot-launched-by-eba-swift-tch/
