Source: Dovetail Systems
Dovetail Systems, a leading and innovative provider of payment solutions to the wholesale banking industry, announced the successful production implementation of CHIPS (Clearing House Interbank Payment System) payment clearing at a major international bank.
This latest milestone of a multi-phase project augments the Dovetail Fed clearing system, which has been in production since April of this year, adding support for the newest CHIPS services including supplemental funding and provides CHIPS liquidity management and alternate routing from between CHIPS and the Fed.
With this successful go-live, all US dollar transactions clearing at the bank, estimated at over 85k payments on peak days, are processed through Dovetail's Envoy payment solution.