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Cuscal connecting over 50% of FIs to NPP

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Person using the NPP to make an instant payment

Sydney, 26 October, 2017 – Today, the New Payments Platform (NPP) took an important step closer to an early 2018 launch as we passed a major checkpoint on the road to going live.

Each of the 13 shareholders of the NPP Australia Ltd has revealed which banks, credit unions and building societies they would be bringing live on Day 1. 29 financial institutions covering 39 retail banking brands will be connecting to the NPP from Day 1 via Cuscal – more than 50% of the total number.

Robert Bell (General Manager, Products and Service), said:

“Today is a significant milestone for Cuscal and our clients. Building the NPP infrastructure and then connecting to it has been a large and complex undertaking for everyone involved, no matter how big they are, so to pass these milestones is cause for celebration. We are very proud to be connecting such a large percentage of all financial institutions. It’s a real credit to the fantastic work of our Cuscal NPP Team and their counterparts at our clients and their core banking system providers.

“It demonstrates that large, medium and small financial institutions can all have access to the latest and greatest payment technology. Some of our clients connecting to the NPP have millions of customers and others have thousands, but all of them will be able to make and receive payments in real-time from the first day the NPP is publicly available.”

The list of financial institution brands connecting to the NPP via Cuscal at launch includes:

Bank Australia, Beyond Bank Australia, Big Sky Building Society, Australian Unity, Central Murray Credit Union, Catalyst Money, Illawarra Credit Union, Community First Credit Union, Easy Street Financial Services, Northern Beaches Credit Union, CUA, Credit Union SA, Defence Bank, First Option Credit Union, Ford Co-operative Credit Society, Goulburn Murray Credit Union, MyState, The Rock, Nexus Mutual, Orange Credit Union, P&N Bank, People’s Choice Credit Union, Police Bank, Police Credit Union, RACQ Bank, Comtax Credit Union, Security Credit Union, SCU, Select Encompass Credit Union, South West Credit, Firefighters Mutual Bank, Teachers Mutual Bank, UniBank, The Mac, Bankstown City Unity Bank, Reliance Bank, Unity Bank, Warwick Credit Union, WAW Credit Union.

Media contact
Jake Waddell 0417 312 902

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