Regulatory Alerts2014-01-01
Mandatory RTGS User Acceptance Testing and Straight Through Process Implementation
The Bank of Zambia mandates all commercial banks to conduct User Acceptance Testing on the new Real Time Gross Settlement system by 11 July 2014. Institutions must deploy full-time personnel to complete these tests and implement a Straight Through Process linking their Core Banking Systems directly to the RTGS network. Bank officials will begin site inspections on 23 June 2014 to verify readiness, and any bank failing to establish this Straight Through Process will be barred from participating in the system's 21 July launch.
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