Lagos, Nigeria, and Pretoria, South Africa | Knox Wire will be hosting representatives from Nigeria’s leading banks and financial institutions as Knox Wire’s demand surges throughout Africa and around the world. Knox Wire 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.
Knox Wire will formally introduce Knox Wire through a conference situated in Lagos, Nigeria, and will be joined by a collaborating partner based in Nigeria who has opened communication to over one hundred financial institutions across the whole of Nigeria. The conference is set to take place at The Federal Palace Hotel, Nigeria, in early April with subsequent meetings discussing integration agreements and timelines to follow shortly thereafter. Nigeria’s GDP is expected to reach $445 Billion USD by the end of 2022 and boasts the highest remittance inflows when compared to any African country, making Nigeria a key milestone in connecting Knox Wire’s Real-Time Gross Settlement (RTGS) network to African-based financial institutions.
Knox Wire has garnered huge attention amongst 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, AI transaction monitoring to prevent fraudulent activity, and a system that integrates seamlessly with existing financial systems.
“The Knox Wire vision is to connect African banks with a continental RTGS system capable of allowing countries throughout Africa to make real-time payments not only between each other, but to all major markets worldwide.” - Knox Wire CEO, Stephen McCullah.