RTGS System
The Automated Transfer and Electronic Settlement System of Georgia is a payment infrastructure operated by the National Bank of Georgia (NBG). It integrates Real-Time Gross Settlement (RTGS) and Clearing Systems.
The system ensures the secure, fast, and efficient processing of both high- and low-value transactions. Transactions are received and processed in both bulk and individual modes.
System Participants include the National Bank of Georgia, the Treasury Service of the Ministry of Finance, commercial banks, and microbanks. The system operates in full compliance with the rules and operating schedule established by the National Bank of Georgia.
On May 11, 2026, a significant technological upgrade of the system was successfully implemented, under which the System fully transitioned to the ISO 20022 international financial messaging standard. This transformation enhanced the structure of financial messages, improved data quality, strengthened international interoperability, and increased the overall efficiency of payment processing.
As part of the upgrade, access to the NBG’s payment system infrastructure was expanded. In particular, non-bank payment service providers were granted the opportunity to become system participants, subject to meeting the relevant eligibility requirements.
This development promotes greater accessibility of the payment system, fosters a more competitive environment, and supports broader integration across the financial sector.
The modernization of the system has significantly enhanced the interbank settlement process. Operational and settlement risks have been minimized, while payment processing is carried out on a continuous basis using modern technologies and advanced security mechanisms.
The new infrastructure provides a strong foundation for the development of future innovative services, including an Instant Payment System (IPS) and additional digital services.
The system incorporates integrated liquidity management and automated gridlock resolution mechanisms. Participating banks are able to utilize intraday liquidity facilities secured by pre-pledged securities.
The system’s close integration with the GSSS ensures that the transfer of securities and the corresponding cash settlement occur simultaneously, in accordance with the Delivery versus Payment (DvP) principle, thereby fully eliminating settlement risk associated with securities transactions.
The central bank ensures the efficient, secure, and reliable operation of the RTGS system in line with international standards and best practices.
The first interbank settlement system (Real-Time Gross Settlement – RTGS) at the National Bank of Georgia was introduced in 2001 with the support of international financial institutions (the International Monetary Fund (IMF) and USAID).
In 2009, a new Real-Time Gross Settlement (RTGS) system was put into operation, replacing the system implemented nine years earlier. Alongside the RTGS system, a Central Securities Depository (CSD) system was also introduced (together, they form the Georgian Payment and Settlement System (GPSS)). The project was carried out with the support of the World Bank and USAID.
Subsequently, in 2018, the NBG expanded only the functionality of the CSD component to enable the existing GSSS platform to serve two CSDs the NBG’s CSD and a private central securities depository.
| Availability | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 |
2025 |
| RTGS | >99.9% | >99.9% |
99.9% |
>99.9% |
>99.9% |
>99.9% |
>99.9% |
The National Bank of Georgia provides efficient, safe and reliable service of the RTGS system. The system is managed in accordance with relevant legislation, best international market standards and practices. There is a very low tolerance margin for financial and non-financial risks towards the RTGS system.
Covid-19 did not affect the operational viability of the RTGS system and remained high again in 2020. The staff mainly worked remotely from home. The resolution of any operational issues was coordinated through virtual meetings and remote communication.