The Clearing House, a national payments system operator for the U.S. banking industry, has selected IBM to help deliver a new real-time payments system due to roll out in 2017.
The real-time payments system (RTP) is designed to enable consumers and businesses across the US to send and receive payments instantaneously.
Previously, The Clearing House selected payments systems provider VocaLink to build the payments system. IBM POWER8-based system infrastructure running Linux and AIX operating systems will act as the hosting platform.
The Clearing House, which is responsible for clearing nearly $2 trillion in payments per day, will utilize the capabilities of the POWER8 architecture to process millions of bank payments settled daily, in real-time, in a security-rich environment.
The ubiquitous system is expected slash and eliminate payment delays and give receivers of financial payments immediate access to funds and support complex business payment services. It will also offer electronic invoicing, remittance data and confirmation of delivery.
The Clearing House chief information officer Tom Statnick said: "To support our real-time initiative, it was crucial we had the right technology infrastructure in place. With IBM Power Systems running Linux and AIX as our base infrastructure, we have the security, availability and resilience required for this industry-changing undertaking."
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Prior to building the custom solution for The Clearing House, IBM and VocaLink ran an extensive set of performance and resiliency tests of the payments service on a set of enterprise-class Power Systems. The IBM POWER8-based infrastructure supported a sustained 2,500 transactions per second. VocaLink previously offered its real-time banking solutions on x86-based infrastructure.