Central Bank of Solomon Islands Launches Instant Funds Transfer Service via SOLATS

The Central Bank of Solomon Islands has officially launched its Instant Funds Transfer service, a significant upgrade to the nation's payment infrastructure. By enabling near-instantaneous inter-bank transfers, the move aims to reduce cash reliance and modernize the digital economy, providing fintech professionals a clear example of how emerging markets are accelerating real-time payment adoption.

What was announced

The Central Bank of Solomon Islands (CBSI) has activated the Instant Funds Transfer (IFT) module within the Solomon Islands Automated Transfer System (SOLATS). This new feature allows account holders at participating commercial banks to move money across different institutions with significantly reduced processing times compared to previous arrangements. The service is designed to facilitate everyday transactions, such as parents sending funds for school expenses or small business owners receiving customer payments without the traditional delays associated with inter-bank settlement.

To ensure a controlled and secure rollout, the CBSI has implemented a transaction cap of SBD5,000 per IFT transfer. This limit serves as a safeguard while the central bank and its partners monitor system performance and identify potential risks. The CBSI has indicated that this threshold will be reviewed as the service matures and usage patterns emerge. Security is underpinned by the SOLATS Business Rules, which dictate how participating banks must manage transactions and resolve issues.

Crucially, the introduction of speed does not exempt institutions from their regulatory duties; banks must maintain rigorous Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT) protocols. This includes active monitoring for "structuring," where larger sums are broken into smaller payments to bypass controls. The IFT infrastructure, developed with technology partner Montran, is intended to serve as a foundation for broader financial interoperability across the Solomon Islands.

"Today is an important day for the Central Bank, our commercial banks, and most importantly, the people of Solomon Islands. This is not simply about introducing another banking system, but about making our payment system work better for our people."

Raynold Moveni, Deputy Governor at the Central Bank of Solomon Islands.

The companies involved

The Central Bank of Solomon Islands (CBSI) serves as the nation’s monetary authority, responsible for maintaining price stability and fostering a secure financial system. By overseeing the Solomon Islands Automated Transfer System (SOLATS), the CBSI acts as the central hub for the country’s inter-bank settlements and payment infrastructure development. The launch of the IFT service represents its latest effort to transition the domestic economy away from a heavy reliance on physical cash and toward digital alternatives.

Partnering with the CBSI on this project is Montran, a global provider of payment systems and financial market infrastructure. Montran specializes in delivering mission-critical solutions for central banks and commercial financial institutions worldwide. The company’s involvement in the Solomon Islands follows a pattern of providing the underlying technology for national payment systems in various jurisdictions. In this deployment, Montran’s technology powers the IFT module, ensuring that the high-speed transfer capabilities are integrated directly into the existing SOLATS framework. This partnership highlights the role of specialized global vendors in modernizing the financial architecture of Pacific Island nations.

What FF News has reported before

FF News has closely followed Montran’s expanding role in global payment infrastructure. In early 2026, the publication reported that Al Etihad Payments Selects Montran to Power Cross-Border Instant Payments Integration, demonstrating the vendor's reach in the Middle East. This followed a period of significant expansion in late 2025, which included the launch of a dedicated regional entity as detailed in Montran Launches Montran Africa, Reinforcing Long-Term Commitment to the Continent's Financial Future. During that same period, FF News covered leadership changes at the firm in Montran Appoints Wohoro Ndohho as Regional Executive Director of Montran Africa. Furthermore, Montran’s work with central banks on national systems was previously highlighted when the Central Bank of Barbados Selects Montran to Power National Instant Payments System in August 2025.

What this means

The launch of IFT in the Solomon Islands reflects a broader global mandate for real-time gross settlement (RTGS) and instant payment capabilities, even in smaller or developing economies. By setting a low initial transaction limit of SBD5,000, the CBSI is prioritizing systemic stability over immediate volume, a move that places pressure on local commercial banks to prove they can manage high-velocity fraud and AML risks. The success of this rollout raises questions for the wider Pacific region regarding interoperability; as individual nations modernize their domestic rails, the industry must now consider how these disparate instant systems will eventually connect for cross-border trade.