Nasdaq and National Bank of Georgia Partner to Modernize Treasury Infrastructure for Top Five Banks

Quick Summary

Nasdaq has partnered with the National Bank of Georgia to implement a shared treasury infrastructure for the country's five largest banks. Utilizing the Nasdaq Calypso platform, this initiative modernizes the full trade lifecycle, enhancing risk management and regulatory oversight for a banking sector with $38 billion in assets.

How Does Nasdaq Calypso Modernize Georgia's Banking Sector?

The Nasdaq Calypso platform introduces a shared infrastructure model that allows five major commercial banks to operate on a single, centralized instance while maintaining strict data segregation. This approach enables Bank of Georgia, TBC Bank, and others to access enterprise-grade risk management without the prohibitive costs of individual deployments.

• Full trade lifecycle coverage from pricing to settlement.
• Standardized reporting and workflows across the sector.
• Single source of truth for all treasury operations.

“Modernising Georgia's treasury infrastructure is a strategic priority for the National Bank of Georgia and a critical step in the continued development of our financial system,” said Natia Turnava, Governor of the National Bank of Georgia.

What Are the Systemic Benefits of Shared Financial Infrastructure?

By adopting a common treasury platform, the National Bank of Georgia gains real-time visibility into systemic risk and liquidity positions. This harmonized data environment supports macroprudential supervision and ensures the sector aligns with ISO 20022 standards for global financial data exchange.

• Double-digit growth supported by robust technology.
• Reduced reconciliation overhead through end-to-end architecture.
• Enhanced audit trails for regulatory compliance.

“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,” said Magnus Haglind, Head of Capital Markets Technology at Nasdaq.

How Does the GMAP Initiative Support Economic Growth?

The Georgian Market Advancement Program (GMAP) serves as the framework for this capital markets development. With funding support from the Japan–EBRD Cooperation Fund, the program ensures that Georgia's financial infrastructure can handle complex derivatives markets and sophisticated securities trading, essential for attracting international investment.

“By aligning on a shared infrastructure backed by Nasdaq's global expertise and the National Bank of Georgia's institutional support... our member banks are not only modernising their own operations — they are collectively raising the standard for treasury management across the sector,” said Lasha Jugeli, Executive Secretary of the GFMTA.

FF NEWS TAKE:

This move by the National Bank of Georgia to mandate a shared treasury infrastructure via Nasdaq Calypso is a masterclass in regional financial engineering. By pooling the resources of the top five banks, Georgia is bypassing the fragmented legacy issues that plague larger markets. It significantly moves the needle by creating a unified, transparent, and ISO-compliant ecosystem that makes the country an attractive hub for frontier market investors.