KARACHI – The State Bank of Pakistan (SBP) has launched PRISM+, a state-of-the-art real-time interbank settlement platform designed to revamp the country’s financial infrastructure and usher in a digitally inclusive economy. The unveiling took place at the National Institute of Banking and Finance, drawing leading bankers, fintech officials, and industry stakeholders to witness this transformative milestone.
SBP Governor Jameel Ahmed emphasised that PRISM+ aligns with the central bank’s Vision 2028, marking Pakistan as one of the select few nations to adopt the ISO 20022 global messaging standard for both retail and high-value payments. The adoption signals that the country now belongs to an elite group that meets international benchmarks in financial messaging and transaction transparency.
Beyond mere compliance, PRISM+ introduces advanced functionalities such as structured messaging, improved interoperability, real-time liquidity management, transaction queuing and prioritisation, future-dated payment scheduling, and seamless connectivity with the Central Securities Depository for auction and monetary operations. Collectively, these features elevate efficiency and reduce systemic risks.
Financial analysts note that PRISM+ complements the ongoing expansion of Raast—the instant payment system facilitating peer-to-peer and merchant transfers—with over 96 million active accounts in use. Together, these systems are solidifying Pakistan’s aspiration to transform into a digital, transparent, and modern financial ecosystem.
The SBP noted that PRISM+ was developed and deployed within a 14-month span, underscoring the urgency and institutional focus on modern financial infrastructure. As digital payment channels continue to grow across Pakistan’s banking and fintech sectors, PRISM+ stands as the backbone ready to support accelerating transaction volumes and future innovation.
This story has been reported by PakTribune. All rights reserved.