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Central 1 completes important milestones on the journey towards go-live of Canada’s new high-value payments system, Lynx

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Central 1 has completed further milestones on the journey towards go-live of Canada’s new high-value payments system, Lynx: a real-time gross settlement system which will replace the existing Large Value Transfer System (LVTS). It is among 16 confirmed Lynx participants to begin industry testing with Payments Canada in preparation for the switch, this summer, to a new payments system which...

Central 1 achieves compliance with SWIFT universal confirmation mandate, ensuring faster and more transparent tracing of wire payments

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Central 1 has successfully achieved compliance with a new SWIFT global mandate, beginning November 22, 2020 onwards, which stipulates that all SWIFT payments must include a final confirmation on its outcome, ensuring faster and more transparent tracing of wires for Central 1’s members and clients. “Being able to track and confirm payments in real-time is fundamental in the world of...