Knox Wire Mulls Real-time Cross-border Financial Solutions in Nigeria

Knox Wire has said it will host top executives of Nigeria’s leading banks and financial institutions on provision of financial solutions.

A statement said the firm, which has increasing global demand, offers financial institutions real-time to same day cross-border payments to a global network of almost 30,000 institutions in 120 countries and 80 currencies.

The firm said it would formally introduce Knox Wire through a conference in Lagos, and would be joined by a collaborating partner based in Nigeria who has opened communication to selected financial institutions across Nigeria.

Speaking on behalf of the country Representative, Sweetapple Capital, Mr Bode Akinboye, said the conference would feature meetings, discussing integration agreements and timelines to follow shortly thereafter.

The statement said, “Nigeria’s GDP is expected to reach $445bn by the end of 2022 and boasts of the highest remittance inflows when compared to any African country, making Nigeria a key milestone in connecting Knox Wire’s Real-Time Gross Settlement network to African-based financial institutions.

“Knox Wire has garnered huge attention among Nigerian financial institutions and is set to provide an RTGS platform that is not only one of the most feature-rich but is also unparalleled in its speed.

“Knox Wire is one of only three major global RTGS solutions but greatly improves upon current offerings by leveraging a correspondent network for off network payments, advanced technical features to provide near-instantaneous cross-border transactions, anti money laundering transaction monitoring to prevent fraudulent activity, and a system that integrates seamlessly with existing financial systems.”