Knox Wire to host major Nigerian financial institutions

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Lagos, Nigeria, April 4, 2022 (GLOBE NEWSWIRE) — Lagos, Nigeria, and Pretoria, South Africa | Knox Wire will host representatives from Nigeria’s leading banks and financial institutions as demand for Knox Wire increases in Africa and globally. Knox Wire offers financial institutions real-time or same-day cross-border payments to a global network of nearly 30,000 institutions in 120 countries and 80 currencies.

Knox Wire will officially introduce Knox Wire at a conference located in Lagos, Nigeria, and will be joined by a Nigeria-based collaborating partner who has opened up communication to over a hundred financial institutions across Nigeria. The conference is scheduled to take place at the Federal Palace Hotel, Nigeria in early April and subsequent meetings will discuss onboarding arrangements and timelines shortly thereafter. Nigeria’s GDP is expected to reach US$445 billion by the end of 2022 and enjoys the highest remittances of any African country, making Nigeria a key step in connecting the gross settlement network in real-time (RTGS) from Knox Wire to Africa-based financial services. establishments.

Knox Wire has garnered huge attention among Nigerian financial institutions and is poised to deliver an RTGS platform that is not only one of the most feature rich but also unparalleled in its speed. Knox Wire is one of only three major global RTGS solutions, but significantly enhances current offerings by leveraging a network of correspondents for off-network payments, advanced technical features to provide near-instantaneous cross-border transactions, AI transaction monitoring to prevent fraudulent activity, and a system that seamlessly integrates with existing financial systems.

“Knox Wire’s vision is to connect African banks to a continental RTGS system capable of enabling countries across Africa to make real-time payments not only to each other, but to all major markets around the world.” – Knox Wire CEO Stephen McCullah.

  • Knox Wire to host major Nigerian financial institutions


        
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