Payment systems replacement

We currently have NZClear 2.0 open for Member industry acceptance testing at present. This is a significant milestone and one of our last hurdles to mark off as successful to inform a go live decision and announce a go live date.

ESAS account holders have completed their Industry Acceptance Testing.

NSI (Swift Interface testing) has also been completed by most members.

 Last updated: 25 June 2019

 

Payment systems replacement member information

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 ESAS Account holders have completed Industry Acceptance testing and are now completing end to end testing with counterparties.

NSI Testing is currently taking place (February to April) and messages are starting to settle in the new NZClear.

We are awaiting the passing of quality gate two, to allow us to announce a start date for Industry acceptance testing.

Infrastructure Update

All of our member organisations are now in a position to connect to the new applications and the infrastructure required has all been stood up. Members who connect via a WAN connection are being contacted to test their WAN connection.

Industry Engagement update

All ESAS and NZClear Train the Trainer sessions were completed in 2019. We are now working on a quick guide and e-learning material to support all ESAS account holders and NZClear members.

Industry key dates

June 2019

NZClear IAT Commences

May 2019

NZClear e-Learning completed

April 2019

NSI Testing completed.

March 2019

Quality Gate two testing.

February 2019

Swift Interface Testing starts.

January 2019

ESAS Industry Acceptance testing concludes.

December 2018

Training for testers and trainers concludes.

November 2018

ESAS Industry acceptance Testing concludes Swift Standards 2018 go live.

October 2018

Training for testers and trainers start.

September 2018

Member On boarding complete for ESAS.

August 2018

Operational Impact Assessment Training.

July 2018

NZClear Familiarisation Sessions.

Account detail and technical contacts requested as a data capture survey.

Member and Account holder onboarding commences.

June 2018

ESAS Familiarisation Sessions