UK-based cross-border liquidity network company RTGS.global has signed agreements with two banks to pilot its settlement service.
Under the terms of the agreements, Tajikistan-based microfinance institution MDO Humo and Georgia-based Credo Bank will run pilots with RTGS.global.
Through RTGS.global’s network, the two financial institutions will realise significant liquidity benefits and simplify cross-border settlement processes, which is traditionally tiresome.
The partnership will improve cross-border payments and settlements in the region, said the cross-border payments company.
RTGS.global executive chair Marcus Treacher 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.”
RTGS.global said that its solution is generating considerable interest among rapidly-developing markets across Central Asia as well as in the wider Asia, Middle East, and African regions.
The company’s advanced Financial Market Infrastructure (FMI) has attracted interest from large multinational banks in the industry.
The large banks have formed a global Banks Working Group with RTGS.global to use its network and expertise to advance cross-border payments and the global banking ecosystem.
The Banks Working Group also comprises more than a dozen banks from across the Americas, EMEA, and APAC regions.
RTGS.global has recently made several strategic new hires, with plans to expand into new regions and engage central banks and commercial banks.
RTGS.global 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.”
