Danmarks Nationalbank's new payment system for the financial sector has gone live

Authors Danmarks Nationalbank
Subject Press releases from Danmarks Nationalbank
Type Press Releases  
Year 2018
Published 20 August 2018
​This weekend Danmarks Nationalbank replaced the most critical payment system of the Danish financial infrastructure, and Monday 20 August is the first banking day with the new system.

20 August 2018

This weekend Danmarks Nationalbank replaced the most critical payment system of the Danish financial infrastructure, and Monday 20 August is the first banking day with the new system.

The system, named Kronos2, is an advanced online bank to which banks, mortgage banks and settlement systems are connected. Kronos2 secures safe and real-time transfer of Danish kroner. Kronos2 constitutes a central part of the settlement of foreign exchange transactions, securities trades and payments with e.g. payment cards.

Danmarks Nationalbank and the rest of the financial sector have worked closely together for several years to prepare the transition to Kronos2.

The new system provides Danmarks Nationalbank with an up to date and robust technical solution. Kronos2 is a prerequisite for Danish banks' gaining access later this year to the trans-European securities settlement system, Target2-Securities.

Enquiries can be directed to Ole Mikkelsen, press consultant, tel. +45 3363 6027.