Payment systems replacement
We are currently testing the applications that are to be delivered under the PSR Programme. ESAS is out with our account holders who are nearing the end of their industry acceptance testing. The NZClear application is still with RBNZ, awaiting quality gates to be attained, then that too will be released to members to perform their own testing and back end changes.
We are anticipating that post the successful passing of the second quality gate (anticipated for February 2019), that we will be in a position to indicate a start date for NZ Clear industry acceptance testing as well as a go live date for both systems.
Last updated:13 December 2018
Payment systems replacement member information
The Reserve Bank conducted a strategic review of ESAS and NZClear in 2013/14. As a result of the strategic review and industry feedback, the Bank decided that it must continue to own and operate ESAS, given that ESAS is central to New Zealand’s financial systems and the Reserve Bank’s statutory functions. The Reserve Bank has chosen to retain the NZ Clear business after a divestment process attracted no sufficiently compelling commercial bids.
ESAS is in it’s final stage with our account holders either completed or completing their industry acceptance testing.
The NZClear Stream is still under testing by RBNZ, awaiting a first quality gate to release for NSI testing, then a second quality gate to make it available for Industry acceptance testing.
All of our member organisations are now in a position to connect to the new applications and the infrastructure required has all be stood up.
Industry Engagement update
For both ESAS and NZClear we have held several workshops, introducing the changes. These have all been completed and have included:
- Familiarisation Presentations
- Operational Impact Assessment Workshops
- Hand on training
Industry key dates
- ESAS Familiarisation Sessions
- NZ Clear Familiarisation Sessions
- Account detail and technical contacts requested as a data capture survey
- Member and Account holder on boarding commences
- Operational Impact Assessment Training
- Member On boarding complete for ESAS
- Training for testers and trainers starts
- ESAS Industry acceptance Testing concludes
- Swift Standards 2018 go live
- Training for testers and trainers concludes
- ESAS industry Acceptance testing concludes
- Expected to complete quality gate two, thus be able to indicate a go live date
- End user documentation for both systems available for internal training and testing