Solomon Islands will benefit from a new financial payment infrastructure, which will make banking easier, contribute to the digitalization of the economy, and help drive inclusive sustainable economic development.

 Launched In April 2024 by the Central Bank of Solomon Islands (CBSI), a new digital payment platform called, the Solomons Automated Transfer System (SOLATS) is a real time gross settlement (RTGS) payment system. It will increase efficiency and strengthen security in the financial system, making it more accessible and convenient for all.  

 This initiative is critically important to help drive economic development and bring more people into the formal financial system in the Pacific Islands nation. According to a demand side survey conducted in 2015, more than 30 percent of adult Solomon Islanders do not have a bank account and lack access to banking services, forcing them to rely on cash.

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