#Cyprus #Nicosia #ISX Financial #Central Bank #T2 RTGS

ISX Financial EU Plc Granted T2 (RTGS) Access via Central Banks

ISX Financial EU Plc, recognized as an Electronic Money Institution (EMI) under the European Economic Area (EEA) regulations, has recently announced a significant achievement: it has obtained authorization from the Central Bank of Cyprus (CBC) to access the T2 platform, which is the Eurosystem’s real-time gross settlement (RTGS) platform. This groundbreaking move positions ISX Financial at the forefront of non-bank participants within the financial ecosystem, allowing for a direct line of communication with the Eurosystem’s RTGS system.

The authorization is a landmark step for ISX, enabling it to execute high-value, cross-border transactions without needing to rely on the traditional model of sponsorship by a bank—a requirement that is commonly imposed on electronic money and payment institutions. By moving away from the dependency on sponsors, ISX Financial is set to strengthen its operational resilience and expand the array of products it can provide to its clients.

Mr. Nikogiannis Karantzis, the CEO of ISX Financial, emphasized the impact of this authorization, stating, "Becoming a direct participant in the T2 RTGS system not only enhances our credibility within the market but also builds trust with counterparties. Furthermore, this transition significantly mitigates operational risks we face, and it broadens the spectrum of services we can offer our businesses."

With this T2 access, ISX Financial is now positioned to manage its liquidity directly within its central bank accounts. This operational independence allows for better cash flow management as they control their SWIFT payments through their own infrastructure for cross-border operations. Consequently, ISX will have the ability to send and receive Euro (€) payments to and from other financial institutions connected to the central bank, without the crutch of a sponsor bank’s SWIFT infrastructure. This capability enhances ISX Financial’s integration into global correspondent banking networks and further powers its cross-border operational capacity.

In the pipeline, ISX Financial is also anticipating integration with the TARGET Instant Payment Settlement (TIPS) system, which will enable seamless cross-currency exchanges between Euros, Swedish Krona (SEK), and Danish Krona (DKK) directly through the associated central banks. This instant payment option is expected to significantly lower operational costs, enhance settlement speeds, and reduce counterparty risks, delivering a competitive edge to ISX Financial’s services.

As part of its broader strategy, the company has already integrated successfully with the Central Bank of Latvia and is set to launch imminently. Additionally, ISX Financial is finalizing connections with the Central Bank of Lithuania, which will ensure diversity and redundancy in its network system. These strategic developments are anticipated to positively influence revenue generation for the company in the short-term.

About ISX Financial EU Plc

Based in Nicosia, Cyprus, ISX Financial EU Plc is a leading provider of banking technology, operating under EEA regulations as an Electronic Money Institution authorized by the Central Bank of Cyprus. The company is also regulated by the Financial Conduct Authority (FCA) in the United Kingdom. Under the leadership of CEO Nikogiannis Karantzis, who boasts over 30 years of diverse industry experience, ISX Financial continues to innovate and expand its techno-financial operations.

With degrees in engineering, law, and business, and experience in secure digital enterprises, Mr. Karantzis has positioned ISX Financial as a pivotal player in the evolving landscape of digital banking and electronic finance.

In summary, the authorizations secured by ISX Financial will not only enhance its operational capabilities but also pave the way for a more robust service offering in the global payment ecosystem. The company's proactive approach underscores its commitment to delivering innovative solutions and maintaining leadership in the competitive financial technology landscape.