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EBACL 2017
14.12.2017
EBACL 2017
14.12.2017
EBACL 2017
14.12.2017
Event title
00 Month 20XX Confidential
EBACL 2017
14.12....
EBACL 2017
14.12.2017
EBACL 2017
14.12.2017
EBACL 2017
14.12.2017
Event title
00 Month 20XX Confidential
EBACL 2017
14.12....
EBACL 2017
14.12.2017
EBACL 2017
14.12.2017
EBACL 2017
14.12.2017
Event title
00 Month 20XX Confidential
EBACL 2017
14.12....
EBACL 2017
14.12.2017
EBACL 2017
14.12.2017
EBACL 2017
14.12.2017
Event title
00 Month 20XX Confidential
EBACL 2017
14.12....
EBACL 2017
14.12.2017
EBACL 2017
14.12.2017
EBACL 2017
14.12.2017
Event title
00 Month 20XX Confidential
EBACL 2017
14.12....
EBACL 2017
14.12.2017
EBACL 2017
14.12.2017
EBACL 2017
14.12.2017
Event title
00 Month 20XX Confidential
EBACL 2017
14.12....
EBACL 2017
14.12.2017
EBACL 2017
14.12.2017
EBACL 2017
14.12.2017
Event title
00 Month 20XX Confidential
EBACL 2017
14.12....
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RT1: a pan-European real-time payment system

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Presentation by Hays Littlejohn (CEO, EBA CLEARING) at Latvijas Banka's conference "Payments in the 22nd Century: Future starts Today?" on 3rd October 2018

Published in: Economy & Finance
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RT1: a pan-European real-time payment system

  1. 1. EBACL 2017 14.12.2017 EBACL 2017 14.12.2017 EBACL 2017 14.12.2017 Event title 00 Month 20XX Confidential EBACL 2017 14.12.2017 EBACL 2017 14.12.2017 EBACL 2017 14.12.2017 Latvijas Banka Economic Conference 2018 3 October 2018Page 1 RT1: a pan-European real-time payment system Hays Littlejohn, CEO of EBA CLEARING Latvijas Banka Economic Conference 2018 Riga, 3 October 2018 Look back on the first 10 months of live operations and outlook on the way forward
  2. 2. EBACL 2017 14.12.2017 EBACL 2017 14.12.2017 EBACL 2017 14.12.2017 Event title 00 Month 20XX Confidential EBACL 2017 14.12.2017 EBACL 2017 14.12.2017 EBACL 2017 14.12.2017 Latvijas Banka Economic Conference 2018 3 October 2018Page 2 The first 10 months of live operations • Very stable live operations from 21 November launch date on • 24 x 7 operations and transactions • Ten months after the launch, around 20,000 SCT Inst transactions per day • RT1 passed 3-million-transaction milestone in August 2018 • Over 99% of the payments are processed in a couple of seconds Facts and figures
  3. 3. EBACL 2017 14.12.2017 EBACL 2017 14.12.2017 EBACL 2017 14.12.2017 Event title 00 Month 20XX Confidential EBACL 2017 14.12.2017 EBACL 2017 14.12.2017 EBACL 2017 14.12.2017 Latvijas Banka Economic Conference 2018 3 October 2018Page 3 Participant uptake since the launch of RT1 Close to full reach among Scheme-adhering PSPs  13 countries in total  29 active participants  > 1,000 addressable PSPs  Close to 100% reach among SCT Inst Scheme-adhering PSPs Status: Sep 2018
  4. 4. EBACL 2017 14.12.2017 EBACL 2017 14.12.2017 EBACL 2017 14.12.2017 Event title 00 Month 20XX Confidential EBACL 2017 14.12.2017 EBACL 2017 14.12.2017 EBACL 2017 14.12.2017 Latvijas Banka Economic Conference 2018 3 October 2018Page 4 RT1 Participants in RT1 System (forecast based on SCT RBs*) by end of 2019 4 * based on indications received from Participants and their SCT Reachable BIC numbers % of BICs reachable in SCT 80-100% 60-80% 40-60% 0-20% 20-40% Expected reach
  5. 5. EBACL 2017 14.12.2017 EBACL 2017 14.12.2017 EBACL 2017 14.12.2017 Event title 00 Month 20XX Confidential EBACL 2017 14.12.2017 EBACL 2017 14.12.2017 EBACL 2017 14.12.2017 Latvijas Banka Economic Conference 2018 3 October 2018Page 5 Uptake in 2018 and outlook on early 2019 RT1 user coverage should correspond to over 80% of STEP2 SCT volumes by Dec 2019
  6. 6. EBACL 2017 14.12.2017 EBACL 2017 14.12.2017 EBACL 2017 14.12.2017 Event title 00 Month 20XX Confidential EBACL 2017 14.12.2017 EBACL 2017 14.12.2017 EBACL 2017 14.12.2017 Latvijas Banka Economic Conference 2018 3 October 2018Page 6 Evolution of RT1 in line with user needs • TIPS instructing party functionality (with a single participant interface for transactions settling in RT1 or TIPS) • Closed user group set-ups for no amount limit and shorter cut-off • SWIFTNet instant as third connectivity option, next to SIANet and EBICS Agile delivery of optional functionality to optimally support SCT Inst ramp-up
  7. 7. EBACL 2017 14.12.2017 EBACL 2017 14.12.2017 EBACL 2017 14.12.2017 Event title 00 Month 20XX Confidential EBACL 2017 14.12.2017 EBACL 2017 14.12.2017 EBACL 2017 14.12.2017 Latvijas Banka Economic Conference 2018 3 October 2018Page 7 Thank you!

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