RTGS.global pilots cross-border service with MDO Humo & Credo Bank

By Gloria Methri

RTGS.global, the Financial Market Infrastructure (FMI) specialising in cross-border settlements, has signed pilot agreements with two innovative banks amid growing momentum in the market for its settlement service.

MDO Humo in Tajikistan and Credo Bank in Georgia are the institutions that will run pilots with RTGS.global, to improv cross-border payments and settlements in the region. Through RTGS.global’s network, the banks will realise liquidity benefits and streamline traditionally cumbersome cross-border settlement processes.

RTGS.global’s 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, the innovative FMI has attracted interest from large 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 in the Spring, the Banks Working Group already comprises more than a dozen market-leading banks from across the Americas, EMEA, and APAC regions.

“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 at 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.”

As it continues to expand into new regions and engage central banks and commercial banks, RTGS.global has recently made several strategic new hires and is on course for further growth this year.