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Australian Settlements adopts IBM Cloud for payments platform

Friday 19 May 2017 | 11:45 AM CET

Financial service provider, Australian Settlements Limited (ASL), has announced plans to use IBM Cloud for its New Payments Platform (NPP).

The platform aims to provide members real-time payments that can be cleared and settled within seconds. The financial service provider has opted for a hybrid cloud solution that uses IMB PureApplication Systems and IMB expertise.

Due to go live in the second half of 2017, the NPP is an industry-wide initiative to develop new national infrastructure for payments in Australia, and is the Australian payment industry's response to the Reserve Bank of Australia's strategic review on innovation. SWIFT will also support the new platform.

The SWIFT NPP Basic Infrastructure connects NPP participants and enables control over processing the flows of payments and settlements.

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