Natia Turnava Meets SWIFT Regional Director

Governor of the National Bank of Georgia (NBG) Natia Turnava met with the Regional Director of SWIFT and other representatives on the sidelines of SIBOS, the international conference organized by SWIFT.

During the meeting, the NBG Governor and her colleagues discussed key areas of cooperation with SWIFT, including the introduction of SWIFT's core products in Georgia. The conversation also touched on the importance of enhancing payment systems and strengthening collaboration, particularly in relation to the implementation of ISO 20022 by commercial banks and the joint training sessions held in this regard.

Natia Turnava highlighted the significant progress made by Georgia's payments market, driven by the rapid introduction of innovative products:

"We are actively developing our payment systems, which will considerably improve the compatibility of Georgia's financial infrastructure both domestically and internationally. As part of this effort, we are upgrading the country's core Real-Time Gross Settlement (RTGS) system to a more advanced level. The upgrade will deliver a more efficient, functionally enriched, and technologically sophisticated system that meets modern standards. We are also fostering the development of various innovative payment services, including the launch of an entirely new Instant Payments System (IPS). Operating on a 24/7/365 basis, the IPS will enable immediate transfers of funds from the payer's account to the recipient's account," said Turnava.

As part of the discussions, the NBG Governor invited the SWIFT Regional Manager and other representatives to consider hosting a meeting of SWIFT National Member Groups in Tbilisi.

It is noteworthy that Natia Turnava will participate as a keynote speaker at SIBOS the major international conference organized by SWIFT. This marks the first time in the history of the National Bank of Georgia that its Governor will address the event in this capacity.