RTGS.global announces partnerships with three banks

By partnering with banks, RTGS.global supports is committed to enhancing cross-border payments and settlements in the Central Asia and Central and Eastern Europe regions. As per the information detailed in the press release, the company’s solution generates substantial interest from early adopters in rapidly developing markets, including Central Asia. This is supported by Commonwealth of Independent States’ (CIS) data that shows 39% of the world’s cross-border payment traffic goes through the region, highlighting its geographical capabilities for innovative settlement services.

Representatives from RTGS.global stated that their objective is to collaborate with progressive banks committed to overpowering the historic and emerging issues associated with payments and liquidity management. Moreover, officials highlighted the growing demand for simplified cross-border payments and settlements as banks in highly developing markets need to keep up with the evolving digital economy.

RTGS.global also attracted interest from multinational banks which formed a global Banks Working Group with the FMI to collaborate in using its network and knowledge to expand cross-border payment capabilities and improve the global banking ecosystem. The Banks Working Group already includes almost 20 banks from across the Americas, EMEA, and APAC regions. Officials added that the partnerships initiated throughout 2023 allowed RTGS.global to move onto the next phase of its expansion and continue to eliminate issues across the global financial system, offering its services to both established and emerging markets. 

As a settlement service, RTGS.global intends to enable instantaneous cross-border movement of funds between banks. The company’s main objectives are to directly connect key market participants from specific countries into a global settlement network while creating simplified interoperability across borders and currencies. RTGS.global works towards a single global liquidity pool to achieve financial inclusion.

The partnerships with Alif Bank, Bank Arvand, and Universal Capital Bank are not the first ones for RTGS.global. At the beginning of July 2023, RTGS.global partnered with MDO Humo and Credo Bank to streamline cross-border payments. At that time, the company signed landmark pilot agreements with the banks as emerging markets waited for its settlement service. The two banks were set to run pilots with RTGS.global, with them aiming to achieve significant liquidity benefits and simply cross-border settlement processes that were traditionally complex. Officials stated that countries such as Georgia and Tajikistan can provide improved experiences to customers by offering simplified services based on streamlined cross-border payments and settlements.