“Georgia serves as a prime example of how a shared infrastructure model can unlock real value for individual institutions as well as the financial system as a whole,” stated Magnus Haglind, Head of Capital Markets Technology at Nasdaq, commenting on the adoption of the Nasdaq Calypso system by five of Georgia’s leading commercial banks.

Haglind noted that by leveraging Nasdaq’s extensive track record in managing large-scale modernisations, institutions gain access to deep domain expertise and growth capabilities without having to bear the full cost, risks, or operational burdens alone.

“The Georgia Financial Markets Advisory Program (GMAP) provides precisely the kind of structured, country-level framework that ensures a transformation of this magnitude succeeds. We are delighted to support the National Bank of Georgia in this initiative and assist the Georgian banking sector in building the infrastructure required for its next stage of growth,” Haglind remarked.

Under this initiative, major Georgian commercial institutions, Bank of Georgia, TBC Bank, Liberty Bank, TeraBank, and BasisBank, will transform their treasury infrastructure using the internationally recognised Nasdaq Calypso platform.

The implementation of the shared Nasdaq Calypso platform is supported by the National Bank of Georgia and spearheaded by the Georgian Financial Markets Treasury Association (GFMTA). It provides a robust, world-class foundation designed to drive the future growth of the country’s banking sector.

Carried out within the framework of the Georgia Financial Markets Advisory Program (GMAP) and coordinated by GFMTA, the initiative marks a major milestone in the evolution of Georgia’s capital and financial markets.
According to the National Bank of Georgia, this strategic partnership with Nasdaq represents a crucial step forward in the digital transformation of Georgian commercial banks, further cementing their integration into the global financial system.