Building global payment infrastructure to pay anyone, anywhere, anytime, instantly, in any currency

Vision: The Project IZZI vision is a safe, efficient, and truly global payment system that delivers instant, seamless, 24×7 account-to-account payments domestically, across borders, and across currencies.

Approach: Project IZZI will achieve this vision and meet the G20 call for faster, cheaper, more transparent, and more inclusive cross-border payments, including remittances, by leveraging the time-tested strengths of the international banking system.

Solution: The Project IZZI solution is patented interbank payment infrastructure with four key elements:

• • A novel form of commercial bank money matched by central bank balances that is a demand deposit liability of any authorized deposit-taking bank or nonbank payment service provider (PSP).
  • Real-time payment processing by industry-run payment systems that deliver instant, 24×7 single-currency payments and integrated pricing, funding, and settlement of cross-currency payments.
  • Streamlined KYC/AML/CFT compliance through a minimum identity standard for each currency’s payment system and centralized enforcement of all system-wide and bank/PSP-specific rules.
  • Easy to access state-of-the-art technology that integrates with existing bank/PSP internal systems, including batch platforms, through simple APIs.