RTGS.global, the Financial Market Infrastructure (FMI) for cross-border settlements, is set to run pilots with Tajikistan-based bank MDO Humo and Georgia-based Credo Bank.
MDO Humo and Credo Bank will pilot RTGS.global’s cross-border settlement solution, signalling a commitment to improving cross-border payments and settlements in the region.
Through RTGS.global’s network, banks will realise significant liquidity benefits and streamline traditionally slow cross-border settlement processes.
RTGS.global’s solution is already generating interest among rapidly developing markets across the likes of Central Asia, as well as in the wider Asia, Middle East and Africa regions.
Meanwhile, the FMI has also attracted interest from some of the industry’s largest multinational banks, which 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.
Launched earlier this year, the Banks Working Group already comprises more than a dozen market-leading banks from the Americas, EMEA and APAC regions.
“Frictionless cross-border payments and settlements”
Marcus Treacher, executive chair at RTGS.global, said: “These fantastic new partnerships highlight the demand for innovative solutions to the historic and emerging challenges associated with payments and liquidity management.
“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.”
Jarrad Hubble, CEO of RTGS.global, 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.”
As it continues to expand into new regions and engage central banks and commercial banks, RTGS.global has recently also made a number of new strategic hires and expects to remain on course for further growth this year.