The Reserve Bank of Fiji (RBF) has contracted with LogicaCMG for the supply and implementation of an interbank real time gross settlement (RTGS) platform.
The vendor says RBF will use its RTGS product, Central Accounting System (CAS), to support the interbank settlement of payments.
Commercial bank participants will be able to connect to CAS and the Swift network for transmission of payments by browser.
Savenaca Narube, governor and chairman, Reserve Bank of Fiji comments: "The implementation of the new national payments infrastructure is an intrinsic part of the Reserve Bank's overall plan to modernise the financial system in Fiji."
LogicaCMG says RBF is the sixteenth central bank to license the CAS product.