RTGS Global is working to completely overhaul the legacy systems of correspondent banking, many of which still rely on manual processing.
RTGS Global instead allows commercial and central banks to settle transactions instantly, authenticating the exchange of funds and creating real-time liquidity between participants.
Dave Sissens, CEO of RTGS Global, said: “RTGS.global was founded with the mission to reduce the cost and friction associated with cross-border payments and liquidity management.
“To be successful in this, we need to work in harmony with the existing financial processes of banks around the world.
"By partnering with Temenos, the world’s leading software provider for banks and financial institutions, we are ensuring that its community of banks can integrate with us easily, without disruption.
“The challenges around cross-border settlement are well known, creating unnecessary cost and risk for banks all over the world. RTGS.global aims to make international cross-border transactions faster, more efficient and more secure.
"As such, we are pleased to be able to offer banks easy access to RTGS.global as part of Temenos Exchange. We hope it enables Temenos’ customers to realise an international payments system suited to the modern world.”