Five banks will adopt a common treasury infrastructure encompassing the front-to-back trade lifecycle.
The National Bank of Georgia — the European nation, not the Southern state — intends to modernize its treasury and financial markets infrastructure with the help of provider Nasdaq Calypso Technology, whose platform will serve as a common infrastructure for the front-to-back trade lifecycle, officials say.
“Five of the country’s largest commercial banks — Bank of Georgia, TBC Bank, Liberty Bank, Terabank and Basisbank — will adopt the Nasdaq Calypso platform 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,” officials say.
“By bringing the country’s five largest commercial banks onto a common, internationally recognized platform, we are raising the standard of risk management, regulatory oversight, and operational resilience across the sector,” says Natia Turnava, governor of the National Bank of Georgia, in a prepared statement.
The commercial banking sector of Georgia “has experienced double-digit growth over the past five years, with total assets approaching US$38 billion — reflecting the depth and dynamism of the country’s financial system. As the sector has grown, so too has demand for more sophisticated treasury infrastructure capable of supporting complex securities and derivatives markets, enterprise-grade risk management, and increasingly rigorous regulatory standards,” according to the announcement. “A shared, coordinated approach — pooling resources and expertise across the sector – provides the most efficient path to achieving that ambition at scale.”
The Nasdaq Calypso platform will be “installed at a centralized location with each of the five participating banks represented as a separate entity within the same instance, with their data fully segregated,” officials say. “Each institution will benefit from a configuration adapted to its individual business requirements, risk profile, and operational context, while operating within a common framework that enables standardized reporting and workflows, shared market data, and collective governance, oversight, and audit capabilities.”
The platform will encompass front-office deal capture and pricing, middle-office risk management and compliance, and back-office settlement, accounting, and financial reporting, officials say. The end-to-end architecture is intended to eliminate multiple point solutions, reduce reconciliation overhead, and deliver a single source of truth for treasury operations across the sector.
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