Kenyan RTGS system transitions to new messaging standard
Central bank says ISO 20022 will help it monitor fraud and facilitate cross-border payments
The Central Bank of Kenya announced on October 14 that its real-time gross settlement (RTGS) system had transitioned to the ISO 20022 messaging standard.
The Kenya Electronic Payment and Settlement System (KEPSS) processed more than 5.3 million transactions in the year to August, amounting to over KSh45 trillion ($348 billion).
“ISO 20022 is the latest international open standard for financial messaging that is being adopted globally,” said the central bank said. “The migration of KEPSS to ISO
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