Developed by Worldline, IP CSM fully complies with international standards and ISO 20022, the developer says.
As a result of this collaborative initiative, all interbank payments in and between Curaçao and Sint Maarten and in Bonaire will now be processed within ten seconds, 24 hours a day and 365 days per year.
With the exception of two local commercial banks, which will join later in 2022, all banks in Curaçao, Sint Maarten and Bonaire are participating in the project.
With the introduction of IP CSM, CBCS says it has become one of the first financial institutions to make use of a dual currency system for instant payments (Netherlands Antillean Guilders and USD).
