Press release: Bankgirot has received Celent's Model Bank Awards for development of payments in real time

4/4/2014 Press release: At the end of 2012, Bankgirot introduced a new payment system in the form of payments in real time. The significance of the real time system is that it handles payments in seconds 24 hours a day.

The analysis company Celent has awarded Bankgirot its Model Bank Award for developing this unique real time platform. Bankgirot's project was one of 83 nominated for Celent's Model Bank Award. The award was presented during Celent's Innovation & Insight Day yesterday, 3 April, in New York.

It goes without saying that, as a clearing house, we work with innovative and forward looking solutions. In this way we help the customers, the Swedish banks, to become more competitive. The development of the real time system is proof that we have succeeded in developing a new payment solution that fundamentally changes the industry," says Birgitta Simonsson, CEO of Bankgirot.

The first service to be linked to payment in real time is Swish, which permits payment in seconds from one bank account to another by private individuals, with the aid of a mobile phone. Swish is a collaboration between Danske Bank, Handelsbanken, Länsförsäkringar Bank, Nordea, Swedbank, SEB and Skandiabanken.

The Celent Model Bank Award is given to financial institutions that make use of the latest in banking technology. The aim of the technologies that are recognised through the Model Bank Award is to help financial institutions to introduce fundamental improvements to the industry and meet the requirements of the market.