At a joint event organized by the National Bank of Georgia, the Georgian Bankers’ Association, and Keepz the first fintech company to receive an open banking license in the country-Georgia witnessed its first live open banking transfer.

Varlam Ebanoidze, head of the NBG's Financial and Supervisory Technology Development Department, highlighted in his speech that Keepz's pioneering steps in open banking will set a precedent for other innovative fintech companies. He emphasized that this momentum will positively influence the growth of innovation, foster a competitive environment, and promote greater financial inclusion across the country.

"Keepz is the first non-banking financial institution to enter the open banking space in Georgia. It’s also the first fintech company to leverage open banking in its business model to initiate payments, which will reduce both costs and the need for intermediaries compared to traditional payment channels," said Ebanoidze.

The event also provided a platform for discussing the numerous benefits of open banking. Attendees included members of the Business and Fintech Association, startups, and other interested parties.