Bank Negara Malaysia Launches 24/7 Interbank Settlement with RENTAS+
The new system eliminates the risks of the previous twice-daily deferred settlement by now settling retail payments like DuitNow on a gross basis after each transaction.
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Bank Negara Malaysia (BNM) has launched RENTAS+, an enhancement to its real-time gross settlement (RTGS) system that now enables continuous, 24/7 interbank fund transfers and settlements.
According to the central bank, this makes RENTAS the first RTGS system in the ASEAN region to offer round-the-clock service.
The upgrade is a response to the rapid growth in retail payments, with daily transaction volume and value having grown by 49% and 22% respectively since 2024.
Previously, the old system settled retail payments twice daily on a deferred net basis, a method that carried inherent credit and settlement risks between banks.
RENTAS+ now largely eliminates these risks by settling retail transactions from services like DuitNow on a gross basis immediately after a customer completes each transaction.
To support this, BNM has also introduced a 24/7 automatic liquidity facility.
Bank Negara Malaysia Governor Dato’ Sri Abdul Rasheed Ghaffour said the launch was part of a multi-year modernisation plan for the system.
Abdul Rasheed Ghaffour
“RENTAS+ strengthens the resilience of Malaysia’s financial market infrastructure, while providing a secure, scalable, and flexible settlement platform for future innovations,” he stated.
RENTAS, which stands for Real Time Electronic Transfer of Funds and Securities, was launched in 1999 and is a critical part of Malaysia’s financial infrastructure.
In 2024, the system settled transactions amounting to RM73.63 trillion, equivalent to 45 times Malaysia’s GDP.
Featured image: Edited by Fintech News Malaysia based on an image by muravev via Freepik.
