Real-Time Rail — Financial institutions

Financial institutions

With modern payment systems, financial institutions can provide faster, data-rich and more diverse payment services to their clients.

 Modern banking in real-time

Transforming Canada’s payment systems opens doors to enhanced payment clarity and enables straight-through processing of payments and new features and services at financial institutions across Canada.

Real-time settlement

Financial institutions across Canada will settle transactions in seconds instead of waiting for deferred settlement times, reducing risks involved with providing provisional credit

A seamless experience

Payments are made and received any time, any where, making it easier for individuals and businesses to send and receive moneys, even outside of normal banking hours, to any Canadian bank account

Real-time liquidity management

With funds exchanged, cleared and settled in  seconds, the Real-Time Rail allows financial institutions’ clients — businesses and consumers — to better manage their money and make more accurate financial decisions

More data means more opportunities

By using ISO 20022 financial messaging standard, the Real-Time Rail allows more data to travel with each payment, opening up the potential for smarter and faster services for clients

Secure and transparent transactions 

The Real-Time Rail is guided and supported by industry leading rules and by-laws, helping improve resiliency and reduce the risk of financial loss due to fraudulent activity

Fostering innovation

The Real-Time Rail allows ecosystem players, including financial institutions to develop enhanced and new ways for Canadians to pay for goods and services, transfer money, and get paid