The Real-Time Rail quarterly update with Jude Pinto: 2024 Q4

Jude Pinto, Chief Delivery Officer at Payments Canada, provides a quarterly update on the Real-Time Rail (RTR) sharing the program’s progress to date and future direction over the next three months.

Jude Pinto provides an update on the status of the Real-Time Rail (RTR) sharing that Payments Canada and our delivery partners have made significant progress and have aligned on a detailed path forward over the next few months.

Payments Canada and our delivery partners have successfully begun building the real-time clearing and settlement component. Reaching this milestone required the rapid ramp up of our delivery partnership, comprised of hundreds of individuals across our partner organizations. Together the team gained alignment from stakeholders and detailed the technical requirements of the RTR, a massive undertaking which will serve as a blueprint moving forward.

Over the next three months, we will continue with the technical build of the real-time clearing and settlement system and enhance the RTR exchange, which was built in 2023. Together these two pieces will form the first real-time payment system in Canada allowing money to be sent and received in real-time, including the exchange, clearing and settlement between financial institutions in real-time.