Reserve Bank of Australia: Collaborating to Build and Leverage the New Payments Platform
Name
MIT_CISRwp456_RBA-NPP_Sebastian.pdf
Size
560.89 KB
Format
Adobe PDF
Checksum (MD5)
743b3134e00e987d7d540ea6e7a6f938
Author(s)
Sebastian, Ina M.
Date Issued
May 19, 2022
Publisher
Cambridge, Mass.: Center for Information Systems Research, Sloan School of Management, Massachusetts Institute of Technology
Citation
Sebastian, Ina M. “Reserve Bank of Australia: Collaborating to Build and Leverage the New Payments Platform.” Working paper 456, Center for Information Systems Research, Sloan School of Management, Massachusetts Institute of Technology, 2022. https://dspace.mit.edu/handle/1721.1/175364.
Series/Report no.
MIT Sloan School of Management Working Paper 6786-22
CISR Working Paper 456
Abstract
In 2020, massive bushfires took an unprecedented toll in Australia. The Reserve Bank of Australia (RBA) and the government agency Services Australia collaborated to distribute more than AUD$233 million in disaster recovery payments directly to citizens bank accounts in minutes. To issue these rapid payments, they leveraged a new real-time payments system, the New Payments Platform (NPP), that an industry collaboration of thirteen Australian banks, including RBA, launched in 2018. This case vignette describes how the organizations collaborated to build the NPP, and how RBA collaborated with Services Australia in leveraging the platform to provide a new digital service to Australian citizens. This vignette will be part of a series of stories that illustrate how companies coordinate ecosystem collaborations.
Subjects
Business Models
Ecosystems
Partnering
Innovation and Strategy
Terms of Use
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