2.4.2 Restructuring of Payment Systems

In accordance with the plan of Restructuring of CBRT Payment Systems and followed by the completion of Participant Interface System (PIS), the Auction System and Retail Payment System in 2012, the third generation of the EFT System, the so-called Interbank Turkish Lira Payment and Settlement System, and the second generation of the Electronic Security Transfer and Settlement System were successfully put into service on 12 July 2013.

Within the scope of this project, the component that manages the participant connections, PIS, has been restructured due to the requirements imposed by the new settlement systems; the infrastructure for the management of digital certificates used for encryption and digital signature purposes has been renewed; the Emergency Case Software Package has been updated to cover all the processes, and a new service that provides users with a setting over the internet for the update and publication of bank and branch information has been developed.

As a result of the projects developed by the Bank’s own resources, the technical and application infrastructures of the payment systems have been completely renovated, and modern, flexible and modular systems equipped with new features and functionalities have been provided. Because the new systems have been developed by the Bank’s own resources, higher levels of business continuity will be obtained as a result of reduced problem intervention and resolution times, service requirements and change requests will be met more quickly with lower costs, and new systems and workflows will be designed more functionally and efficiently.