Solomon Islands sets out on a journey of financial transformation with the launch of Montran’s Automated Transfer System (ATS) and Central Securities Depository (CSD) solutions.

PROJECT SPOTLIGHT /Montran/ — Montran, in partnership with Central Bank of Solomon Islands (CBSI), announced the successful go live of Montran’s Automated Transfer System (ATS) and Central Securities Depository (CSD) solutions. These implementations mark a significant advancement in the country’s payment infrastructure, promising improved efficiency, security, and accessibility for financial transactions. This transition from paper-based clearing methods to end-to-end payments digitalization brings forth a multitude of benefits for both the stakeholders and end-users.

Montran’s ATS solution is a central infrastructure application that integrates the Real-Time Gross Settlement (RTGS) and Automated Clearing House (ACH) platforms. The CSD system spans a full range of depository functions catering to participants of fixed income securities, in local and foreign currency.

The rollout of the new platforms will result in significant benefits for the Central Bank and participants:

• Real-time settlement of high-value transactions (via RTGS) and seamless batch processing of low-value payments (via ACH).
• Instant funds access and effective cash flow planning, resulting in improved Liquidity Management.
• Increased Efficiency via automated and streamlined clearing & settlement processes.
• Enhanced transparency and accountability in the payment ecosystem.
• For consumers, the shift to digital clearing translates into a convenient and user-friendly experience, fostering trust and boosting transactions through digital channels.

“I would like to take this opportunity to register our sincere thanks to Montran Corporation for having delivered a modern payment system that is now beginning to impact positively the payments ecosystem in the Solomon Islands in just two weeks of operation” said Daniel Haridi​​​​, ​Chief Manager of the ​National Payment System Department for Central Bank of Solomon Islands. “With the capabilities of SOLATS to integrate with other systems and ensure interoperability of systems, I am sure the people of Solomon Islands will realise fully the potential benefits of a system that is safe, reliable and efficient, going forward”.

Following the launch of Montran’s platforms, the Ministry of Finance experienced a noticeable increase in revenue. This advancement not only enhances financial governance but also contributes to the overall economic stability of the country.

CBSI awarded a Certificate of Appreciation to Montran, recognizing its outstanding efforts in executing the project. This recognition highlights the commitment and dedication demonstrated by our team for successful project implementation.

For more information, refer to CBSI’s press release on this implementation here.

About Central Bank of Solomon Islands

The Central Bank of Solomon Islands (CBSI) is the premier financial institution in the country and is at the center of the banking and financial system, performing a number of essential functions, including the formulation and implementation of the country’s monetary policies. CBSI is the only authority that exercises discretionary control over the Country’s entire monetary system.

About Montran

Montran is a premier provider of Payment and Securities Market Infrastructure solutions, servicing national banks, national level clearing and settlement institutions and commercial banks with mission critical installations and operations in over 80 countries. Discover more at www.montran.com.

SOURCE Montran