suorasiirtojen

Suorasiirtojen, meaning "direct transfers" in Finnish, refers to a system of electronic fund transfers primarily used in Finland. This system facilitates the rapid movement of money between bank accounts within the country. It operates as a real-time gross settlement (RTGS) system, meaning that transactions are settled individually and immediately on a gross basis, rather than being netted against other transactions.

The primary goal of suorasiirtojen is to ensure the liquidity and stability of the financial system by minimizing settlement risk. This means that once a payment is processed through the suorasiirtojen system, it is final and irrevocable, reducing the risk of one party defaulting on their obligations. This contrasts with other payment systems where multiple transactions might be batched together and settled at a later time.

Suorasiirtojen is operated by the Bank of Finland, the central bank of Finland. It handles high-value and time-critical payments, often used by financial institutions for interbank settlements. While typically used for large transactions, the underlying technology and principles can also be applied to facilitate faster retail payments, though specific retail payment systems might have different branding and operational nuances. The efficiency of suorasiirtojen contributes to the smooth functioning of Finland's financial markets and economy.