# 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

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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.

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**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











 

## Learn More



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### Payments modernization could save businesses billions



Study begins to quantify benefits of payments modernization for business community



Learn more

 ](https://www.payments.ca/payments-modernization-could-save-businesses-billions)