Magnus Haglind - We welcome the opportunity to support the National Bank of Georgia and to help Georgia's banking sector build the infrastructure it needs for its next phase of growth
Georgia presents a compelling example of how the shared infrastructure model can unlock real value for individual institutions and the financial system as a whole - this was stated by Magnus Haglind, Head of Capital Markets Technology at Nasdaq, regarding the adoption of the Nasdaq Calypso system by five of Georgia's leading commercial banks.
Georgian commercial banks: Bank of Georgia, TBC Bank, Liberty Bank, Terabank, and Basisbank will transform their treasury infrastructure onto a unified, internationally recognised platform using the Nasdaq Calypso system. The Nasdaq Calypso shared platform is being implemented with the support of the National Bank of Georgia and under the auspices of the Georgian Financial Markets Treasury Association, providing the reliable, world-class infrastructure needed to foster the banking sector's continued growth.
The initiative, operating under the Georgian Market Advancement Program (GMAP) and coordinated in collaboration with the Georgian Financial Markets Treasuries' Association (GFMTA), represents a significant milestone in the development of Georgia's capital markets. The partnership with Nasdaq represents another significant milestone in the transformation of Georgia's commercial banks and will facilitate their integration into the global banking system.
According to Magnus Haglind by drawing on Nasdaq’s experience navigating modernization programs at scale, firms gain access to deep institutional knowledge and the ability to evolve without bearing the full cost, risk, or operational complexity of doing it alone "The 'Georgia Financial Markets Development Program' (GMAP) reflects exactly the kind of structured, country-level framework that enables this type of transformation to succeed. We welcome the opportunity to support the National Bank of Georgia in this initiative, and to help Georgia's banking sector build the infrastructure it needs for its next phase of growth." noted Magnus Haglind.
