BoE permits cloud usage to support ISO 20022 migration

London

Participants in one of the UK’s largest payments systems will be able to outsource related infrastructure to cloud service providers, a new report from the Bank of England says.

Over the past 12 months, the BoE has been making changes to its clearing house automated payment system (Chaps) reference manual, which will allow direct participants to use cloud services more broadly.

Chaps is the UK’s same-day sterling settlement system, used to settle high-value wholesale payments and time-critical

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