RTGS.global has agreed deals with two banks with the aim of streamlining cross-border payments and settlements.
MDO Humo in Tajikistan and Credo Bank in Georgia will run pilots with RTGS.global. Through RTGS.global’s network, banks will realise significant liquidity benefits and streamline traditionally cumbersome cross-border settlement processes.
Credo Bank is the fifth-largest bank in Georgia, serving 460,000 customers via its 84-branch network.
RTGS.global says that its solution is generating considerable interest among rapidly-developing markets across Central Asia, as well as in the wider Asia, Middle East and Africa regions. Meanwhile, its Financial Market Infrastructure has attracted interest from large multinational banks.
RTGS.global working group: 12+ major banks collaborate to advance cross-border payments
A number of major banks have formed a global banks working group with RTGS.global to collaborate in leveraging its network and expertise to advance cross-border payments and enhance the global banking ecosystem.
The working group launched in Q1 and comprises more than a dozen major banks from the Americas, EMEA and APAC.
“These fantastic new partnerships highlight the demand for innovative solutions to the historic and emerging challenges associated with payments and liquidity management”, said Marcus Treacher, executive chair, RTGS.global.
“What we are seeing in countries such as Georgia and Tajikistan is a recognition that they can provide a far superior experience for customers by offering efficient and seamless services based around frictionless cross-border payments and settlements.”
CEO Jarrad Hubble added: “We knew 2023 would be a pivotal year for our business as we achieve the next phase of our growth. Our ability to serve both established and emerging markets demonstrates a genuine commitment to fixing issues across the global financial system.”
RTGS.global offers next-generation settlement service delivering real-time cross-border payments and liquidity management. Its service aims to reimagine how settlement occurs in the interbank foreign exchange market. It enables counterparties to settle trades instantly, bilaterally, and without settlement risk, 24/7/365.