The Bank of Mongolia, RTGS system, (RTS/X)
The Central Bank of Mongolia, RTGS System (RTS/X)
CMA company completed a project for the Central Bank of Mongolia for the Real Time Gross Settlement System in 2014. The Bank launched the project within the framework of the country’s financial infrastructure modernization project. CMA designed the system, adjusted it according to the national regulating authorities and legislation requirements, installed and setup it. The RTGS system is based on CMA standard RTS/X package with the support of ISO8583 interface to external SCC system (Switch Clearing Center).
The vendor was chosen as a result of the tender carried out by the Bank of Mongolia under the aegis of the World Bank. The supply and system installation period took 9 months. The RTGS participants are 16 commercial banks, the Bank of Mongolia and Ministry of Finance. Total number of direct participants’ branches is about 1500. System is widely used for inter-branch settlement involving commercial banks’ branches throughout the country. The majority of the commercial banks implemented interfaces to their Core Banking systems using CMA’s software supplied by default.
RTGS hardware system upgrade was performed by joint efforts of CMA and BoM in 2014.
Status: The system went into live operation on May 29, 2009 according to the project schedule.