The State Bank of Pakistan (SBP) has introduced PRISM+, an upgraded payment and settlement platform designed to modernize how money and government securities move through the financial system.
Faster Transactions, Smarter Tools
At the heart of PRISM+ is a revamped Real-Time Gross Settlement (RTGS) system, enabling banks to process large-value payments more swiftly. Unlike traditional systems, it now supports real-time transfers, scheduled payments, and priority-based processing. Banks will also benefit from live dashboards to monitor balances and automatic fee calculations, making day-to-day operations smoother.
Securities Management Gets a Digital Boost
The second major feature is a brand-new Central Securities Depository (CSD). This will reshape how government securities like Treasury Bills and Pakistan Investment Bonds are managed. With real-time auction results and quicker settlement in secondary markets, banks will gain more agility in handling government debt instruments.
Strengthening Monetary Operations
Beyond banking transactions, PRISM+ plays a critical role in the SBP’s own monetary management. By streamlining liquidity operations and open market transactions, the system is expected to make central bank interventions more efficient and transparent.
Meeting Global Standards
PRISM+ isn’t just a local upgrade—it brings Pakistan in line with international benchmarks. The system adopts the ISO messaging standard, already used by advanced economies, which improves both interoperability and security.
Why It Matters
For Pakistan’s financial sector, this upgrade is more than a technical improvement. Faster settlements, stronger transparency, and better handling of government securities could help reduce systemic risks, while also laying groundwork for broader digital transformation in the banking ecosystem.