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PayDay News | Australian Payments News

RITS is set to be rebuilt – and beyond patching its faulty pipes

Senior Business Correspondent
7 Jan, 2026
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Michael Sainsbury
Senior Business Correspondent
7 Jan, 2026
Add us as a preferred source on Google
The Reserve Bank Information and Transfer System (RITS) is set for a major upgrade this year – the first “strategic modernisation” of Australia’s high-value real-time settlement system since the Fast Settlement Service was launched in 2018.
RITS is set to be rebuilt – and beyond patching its faulty pipes
The RBA has embarked on a strategic modernisation of RITS. Picture generated by AI.

The Reserve Bank Information and Transfer System (RITS) is set for a major upgrade this year – the first “strategic modernisation” of Australia’s high-value real-time settlement system since the Fast Settlement Service was launched in 2018.

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