Smester 2 Journal
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ilijah
This line marks the beginning of my Semester 2 journal. I will reply to this with all other updates.
Last reply was deleted. Testing 1..2…
Following Dr Ellis’ feedback on my initial FYP progress, I will continue reporting on the systems that govern bank transfers. So far only documentation that describes the flow of information and money exists, however, a more technical understanding of these systems is needed. This will require information from cenral bank officials and/or InforLink employees.
In a Trinidad Newsday article, Glynis Alexander-Tam, general manager of InfoLink Services, noted that ACH is a switch, and the process of ensuring that money goes where it is intended takes time. There was also mention that the time taken for a transfer to be executed is because of “validation”.
Hence, I need to know now what a “switch” is and what about the “validation” takes time.
The defining stage of the GAP analysis is maturing. This includes a more clearly defined starting state (the current interbank network in T&T) and goal state (a real-time interbank network). The Zelle network in the United States in being used a model for the real-time system due to its ease of potential integration with the current system in T&T.
Gantt chart was updated based on the fact that only approximately 9 weeks are left until the project is due. deliverables for each week were created to stay on track for an April 5 submission.
The first project meeting of the semester was held on February 3, 2026. My current progress on my project was validated. However, I was encouraged to speed up my timeline and aim to finish by the end of February.
I will update the Gantt chart to reflect this goal. While somewhat ambitious, this is a good aim. If I fall short, I’ll still be in a good position. I also still have to talk to stakeholders, so I do need to speed up.
Today I attended my second FYP meeting for the semester.
Deliverables: First draft due on March 20, 2026.Today’s FYP work begins with a continued review of T&T’s national payment system. A general overview of the services and infrastructure was done already. However, a more detailed description of each element will be done. This will help gain an understanding of the key elements and infrastructure associated with a country’s payment system. This understanding will then become key when analysing global payment systems.
The meeting with an industry expert, Glynis, was scheduled today, Friday, 27 March. This means that all analysis and modelling should be completed by then.
A major section of the literature review was completed. This is the review of global payment systems from Brazil, Kenya and India. This is allowed for the development of the following framework. Operating Structure, Technical Details and Payment Process and Clearing and Settlement.
This will lead to a standardised definition of the current payment system and the future one. Hence, the GAP analysis could be completed.
Next steps are to model the current system using the developed framework. Then, to use design methods to describe an instant payment system for Trinidad and Tobago, based on the ease of integration. Then, to conduct the GAP analysis. Then, to present findings to Glynis.
The meeting with Glynis concluded on Friday, 27 March. The following objectives were met:
1. Presentation of the current state model/definition.
The majority of the model/ definition was verified to be accurate. However, there were minor mistakes which are to be corrected.
2. Presentation of the desired state model/definition.
The desired state model was verified to be plausible, given that a certain requirement is met, where banks have collateral that will protect them against risks associated with the settlement of funds.
3. Presentation of gaps.
Gaps were verified to be accurate, with additional gaps given, such as the ISO 20022 messaging standard and the collateral gap mentioned above.
Work continues on the design procedure to design the desired state. An approach that results in the easiest design to implement will be utilised.
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