Logica implements Chile bank system

LogicaCMG today announced the successful implementation of its Real-Time Gross Settlement (RTGS) System for the Banco Central de Chile (BCC), Chile's Central Bank.

The system provides Chile with a modern payment infrastructure, which confers stability to and confidence in the national banking system by eliminating systemic risk and increasing operational efficiency, crucial for attracting inward investment.

The RTGS infrastructure also enables Chile’s commercial banks to offer a wider range of banking services to their customers, which, in turn, provide them with the ability to optimise their funds and thus contribute to economic growth.

BCC's general manager, Sr Camilo Carrasco Alfonso, said: "With this RTGS project we have implemented a national payments infrastructure for Chile that is compliant with the most sophisticated international standards."