Payment systems replacement

We are on track to go live with the Payment Systems Replacement Programme in April 2019. We are focussing now on implementing a change programme that ensures the on-going provision of payment and settlement infrastructure and systems.
 Last updated: 4 July 2018

Payment systems replacement member information

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Background

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.

Software Update

The CSD vendor stabilisation has now completed, with the RBNZ User Acceptance Testing (UAT) now underway.

The RTGS stream also continues to track to plan, with UAT nearing completion.

Infrastructure Update

The Infrastructure Replacement stream continues to progress with a detailed plan being produced of the full environment availability and readiness, allowing further activities such as Industry training and Industry testing plans and timelines to be finalised.

Industry Engagement update

In June we held ESAS Familiarisation sessions with good attendance in Wellington and Auckland. July, we will hold similar sessions for NZ Clear.

Following that will be workshops held for key operational, support and project staff to understand the impact of the changes, to go away and ensure they will have the plan in place to also be ready in April 2019.

Industry key dates

June 2018

  • ESAS Familiarisation Sessions

July 2018

  • NZ Clear Familiarisation Sessions
  • Account detail and technical contacts requested as a data capture survey
  • Member and Account holder on boarding commences

August 2018

  • Operational Impact Assessment Training

September 2018

  • Member On boarding complete

October 2018

  • Training for testers and trainers

November 2018

  • Industry testing starts
  • Swift Standards 2018 go live

January 2019

  • Test packs returned by all account holders signed off that prescribed tests have been executed and passed

March 2019

  • End user training

April 2019

  • GO LIVE