In April 2017, Payments Canada announced a list of suppliers invited to participate in a procurement process for Lynx. The company has selected SIA, subject to negotiation of the final agreement and final regulatory approval.
As part of the collaboration, the two partners, along with other industry stakeholders on the next version of their Real-Time Gross Settlement (RTGS) application solution to deliver on the needs identified during consultations for the future of payments in Canada, in compliance with the Canadian and international risk standards.
The new system will replace Canada’s current Large Value Payments System and will be based on the global ISO 20022 messaging standard.
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