The National Bank of Georgia (NBG) has successfully completed the modernization of its Real-Time Gross Settlement (RTGS) and clearing systems.

The project stands out for its exceptional scale and complexity. In addition to the NBG, all commercial banks, microbanks, and the State Treasury of the Ministry of Finance of Georgia implemented significant infrastructural and technological changes. This marks the first project of such scale in Georgia’s financial sector since 2009, once again highlighting its systemic importance for the development of the country’s financial infrastructure.

The implementation of the upgraded RTGS system aims to provide the financial sector and its customers both individuals and legal entities with faster, safer, and more reliable services, while further aligning the country’s payment infrastructure with international standards. Furthermore, the new infrastructure establishes a solid foundation for the development of future innovative services, including the Instant Payments System (IPS) and additional digital financial services.

This project represents one of the most significant milestones in the modernization of Georgia’s financial sector and further strengthens the country’s position as a modern and resilient payment ecosystem amid the ongoing global digitalization process.

The upgraded payment system is fully based on the international ISO 20022 standard, ensuring a more modern, flexible, and efficient payment environment.

The project was implemented with the support of the World Bank, which significantly contributed to the effective modernization of the country’s payment infrastructure and its alignment with international standards.

As a result of recent legislative amendments, access to the NBG’s payment system infrastructure has been expanded, and the upgraded system now fully supports broader participation on a technical level. In particular, non-bank payment service providers are now able to become participants in the system upon meeting the relevant requirements, which will foster greater competition and enable the delivery of improved services to customers.

The National Bank of Georgia extends its gratitude to all parties involved commercial banks, microbanks, the State Treasury of the Ministry of Finance of Georgia, and other stakeholders for their active cooperation and significant contribution to the successful implementation of the system. The NBG also expresses its appreciation to the system vendor, Montran, for its continuous support throughout the project and for the longstanding partnership.