IBM chosen to support Canada’s RTGS platform
“IBM Canada will help to ensure we deliver the highest international security”
Payments Canada has selected IBM as the lead technology partner for next-generation real-time gross settlement (RTGS) system Lynx, reports Jane Connolly.
IBM Canada will provide combined hosting and system integration services for end-to-end delivery and system operations for the new high-value payment system, Finextra reports.
The role will include offering security expertise and support for the launch, including the move to Lynx from the country’s current large value transfer system.
Along with daily operations, IBM Canada will also oversee SIA, which won the build contract earlier this year.
“The onboarding of IBM Canada as lead technology partner will help to ensure we deliver the highest international security, resilience and operating standards for high-value payments in Canada,” says Gerry Gaetz, president and CEO of Payments Canada.
He adds: “This is a key partner to join us along the modernisation journey as we establish a foundation for payments that will strengthen Canada’s competitive advantage on the global stage.”
Lynx is a core part of Payment Canada’s major modernisation initiative, created in response to international risk standards and the new ISO20022 messaging type.
