Central Bank's Inter-bank Fund Transfer System

Beginning in 1999, the Central Bank of China (CBC) commissioned International Integrated Systems, Inc. to assist domestic banks in upgrading the facilities for the "Central Bank's Inter-bank Fund Transfer & Clearing System" in order to improve the funds transfer efficiency as well as control the movement of the funds in the financial industry and also to solve Y2K systems and X.25 communication interface problems. Using the CBC X.25 communication mainframe and a replacement of the encryption/decryption processor, they obtained a continuous project, assisted in the planning and building of the next generation TCP / IP communication interface, and successfully completed the mission of concurrent launch for national sector users.

The "Central Bank's Inter-bank Fund Transfer & Clearing System" assists in the handling of fund transfers within the financial industry as well as transactions and operations such as adjusting reserves, funds settlement for interbank overnight call-loan funds settlement for interbank overnight call-loan, NTD settlement for Foreign Exchange trading, and Payment and settlement for Bond and Bill trading. The system uses real-time gross settlement (RTGS), provides stand alone operations and workstation (PC) network connections, and also supports local and remote backup solutions. The Interbank Funds Transfer System application software for the Central Bank of China will be updated soon, and it will also provide a next generation web solution for national operation sectors in the future.

Functions

Providing a network system for large payments, connection with the CBC host for financial institutions, allowing transfer with CBC reserve account, and handling transaction within the financial industry, including funds transfer, adjusting reserves, funds settlement for interbank overnight call-loan funds settlement for interbank overnight call-loan, NTD settlement for Foreign Exchange trading, and Payment and settlement for Bond and Bill trading.

Features

• Real-time gross settlement (RTGS) continuously registers transfers individually in real-time gross settlement. This effectively obstructs payment transactions with debits and payments not in full from entering the system and prevents systematic risks from happening.
• Stand alone operations as well as workstation (such as the AIX system on IBM RS/6000 and Linux operation system on PC Server) network connections to provide choices for local and remote backup solutions as well as multiple hosts support.

Benefits

• The standard and modulized system can quickly build operations for launch.
• The excellent maintenance skills and service efficiency of the construction team ensures the smooth operation of the system.

Clients

• Domestic Banks
• Totaling more than 40 domestic banks, including Agricultural Bank of Taiwan, Bank Of Taiwan, Land Bank of Taiwan, Chiao Tung Bank, Chang Hwa Bank, Chinatrust Commercial Bank, International Commercial Bank of China, Bank SinoPac, Taishin International Bank, Taiwan Cooperative Bank, Cathay United Bank, First Commercial Bank, Taipei Fubon Bank, China Development Industrial Bank, Far Eastern International Bank, Shanghai Commercial & Savings Bank, Ltd, Directorate General of Postal Remittances & Savings Bank, and others.
• Foreign Banks
  Totaling more than 30 foreign banks, including Citibank Taiwan, HSBC Bank (Taiwan) Limited, Chase Manhattan Bank, Bank of America, Standard Chartered Bank (Taiwan) Limited, Union Bank of Switzerland, ABN AMRO Bank, Bank of Nova Scotia, Deutsche Bank, and others.
• Bills Finance Companies
  Totaling more than 15 bills finance companies, including Fubon Financial, Chinatrust Bills Finance Co., Ltd, Taiwan Finance Corporation, International Bills Finance Corp., E. Sun Bills Finance Corp., Central Bills Finance, and others.