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Bank of England selects Accenture for RTGS overhaul

Monday 3 August 2020 12:36 CET | News

Bank of England has selected Accenture for the overhaul of its Real-Time Gross Settlement (RTGS) service.

The company was selected through a public procurement process that commenced in February 2019.

As agreed, Accenture will serve as a technology delivery partner for the RTGS Renewal Programme. 

The RTGS service serves as a critical component in UK payment infrastructure. It holds accounts for banks, building societies and other institutions enabling real-time settlements between account holders.

Under the renewal programme, a new RTGS platform will be developed and integrated to improve data access. 

The overhauled RTGS service will also provide access to more companies, ensure wider interoperability and bolster end-to-end risk management.

The renewed system is due to start being delivered in 2022.

 


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Keywords: Bank of England, Accenture, RTGS, data, payments
Categories: Banking & Fintech | Payments General
Countries: United Kingdom
This article is part of category

Banking & Fintech