# The Road to an Open Payment Platform: Making the Most of BOJ-NET
Author:  Pal Sinha, Barnali 
Author URL: https://financedigest.com/author/pal-sinha-barnali
Published: 2017-08-03
Category: FINANCE
Category URL: https://financedigest.com/category/finance
Meta Title: Unlocking Value with BOJ-NET Payment Systems Report
Meta Description: Learn how the banking industry is evolving towards an open payment platform with insights from a senior analyst at Celent. Explore the value of secure
URL: https://financedigest.com/the-road-to-an-open-payment-platform-making-the-most-of-boj-nethtml

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Celent has released a new report titled [The Road to an Open Payment Platform: Making the Most of BOJ-NET](https://www.celent.com/insights/929570844). The report was written by [EiichiroYanagawa](https://www.celent.com/analysts/eiichiro-yanagawa), a Senior Analyst with Celent’sBanking practice.

The value offered by payment and settlement services was rooted in supplying services that ensure secure and certain transmission of electronic messages. The internal processes of settlement (such as transaction banking) have been bifurcated into a standardized back end and customized front end. The internal processes dedicated and tailored to external connections will ultimately be outsourced. For customers, the added value is in bringing diversity, convenience, and innovation to the [point of engagement](https://www.financedigest.com/three-points-to-consider-when-getting-engaged.html "Three Points To Consider When Getting Engaged"). For banks the [value lies in connections to financial market](https://www.financedigest.com/analgesics-market-value-surpasses-us-77-3-bn-as-demand-for-nsaids-rise-at-4-1-fmi.html "Analgesics Market Value Surpasses US$ 77.3 Bn as Demand for NSAID’s Rise at 4.1%: FMI") infrastructure; moving forward, cost optimization will dictate a shift to outsourcing and/or use of utility services.

This report examines the potential means of paving a path toward an open innovation platform with a focus on the BOJ-NET Funds Transfer System, or the BOJ-NET, and initiatives that seek to understand and efficiently use the core payment [systems](https://www.financedigest.com/covid-19-putting-a-spotlight-on-mea-payment-systems.html "COVID-19: Putting a spotlight on MEA payment systems") and payment service systems of Japan.

“The Bank of Japan and settlement service operators have worked to revise designated-time net settlement (DTNS) for domestic exchange settlement as well as foreign exchange settlement to introduce delivery versus payment for Japanese government bond (JGB) settlement, corporate bonds, and [mutual funds](https://www.financedigest.com/mutual-funds-vs-stocks-which-is-better.html "mutual funds"),” said Yanagawa. “Moving forward, the shortening of the settlement period for JGBs and other changes are expected to have wide-ranging impacts on individuals and entities with stakes in the money and [securities](https://www.financedigest.com/artificial-intelligence-ai-to-catalyze-the-secure-messaging-in-healthcare-market.html "Artificial Intelligence (AI) to catalyze the Secure Messaging In Healthcare Market") markets.”

“Payment services that go [beyond market](https://www.financedigest.com/the-high-strength-rtd-malt-beverages-market-to-move-beyond-the-monotony.html "The High Strength Rtd Malt Beverages Market To Move Beyond The Monotony") or system change and instead go the extra mile to offer customers a true and new service for the sake of service will emerge,” he added.

**Using JGBs on a Global Basis**

**Source: BOJ, Celent**

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