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Real-TimeGrossSettlement (RTGS) (2004): A major leap forward, establishing a robust system for large-value, real-time interbank fund transfers, enhancing systemic efficiency and reducing settlement risk. This was a step towards automated recurring payments.
By 1990, many countries had real-timegrosssettlement (RTGS) systems in place to rapidly clear and settle high-value transactions. But as countries continue to demand more from their RTGS offerings, many are realizing that their aging services no longer meet their needs.
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