The Bank of England has put its renewed Real-Time Gross Settlement (RTGS) service, known as RT2, into live operation from 28 April 2025. The renewed platform is intended to support the Bank’s strategic objectives for RTGS and CHAPS by acting as an open platform for change and innovation, improving wholesale settlement efficiency and facilitating greater competition. RT2 is positioned alongside the introduction of ISO 20022 payments for CHAPS in 2023, with the combined changes aimed at enhanced resilience, greater interoperability, increased user functionality and greater access.
Bank of England 2025-04-30
Bank of England brings renewed RTGS service RT2 live
The Bank of England has launched its renewed Real-Time Gross Settlement service, RT2, as of 28 April 2025. This platform aims to enhance wholesale settlement efficiency and foster competition, aligning with the Bank's strategic objectives for RTGS and CHAPS. RT2 complements the 2023 introduction of ISO 20022 payments for CHAPS, targeting improved resilience, interoperability, and user functionality.