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Payment systems trends in Japan: Birth of the next generation BOJ-NET
Journal of Payments Strategy & Systems,
8
(2),
172-187
(2014)
Abstract
The computerised backbone of Japan’s payment and settlement system, the Bank of Japan Financial Network System (BOJ-NET), is undergoing an upgrade. Over the past decade, the system has added functions and undergone enhancements, but these pale next to this ambitious system overhaul, which promises to have an enormous impact on both systems and operations for financial institutions. This paper considers BOJ-NET, the heart of the nation’s payment system, and analyses the evolution of this payment service and the nation’s payment system.
Keywords: financial market infrastructure; Bank of Japan Financial Network System; real-time gross settlement; designated-time net settlement; delivery versus payment; Straight-Through Processing
The full article is available to subscribers to the journal.
Author's Biography
Eiichiro Yanagawa is a Senior Analyst in the Asian Financial Services group at Celent and is based in the firm’s Tokyo office. His research focuses on information technology (IT) strategy issues in the Japanese and Asian banking and financial industries. His recent research has included core banking systems, ATMs, anti-money laundering technology, electronic trading, IT spending trends and business process outsourcing. He earned his MBA at Hitotsubashi University Graduate School of Commerce and Management.
