Pave Bank, the world’s first programmable bank, announced the successful expansion of its global correspondent banking network, establishing key partnerships with banks in the United States, United Kingdom, Switzerland, Luxembourg, and Turkey. This initiative aims to provide efficient, low-cost, and high-speed payments in different currencies for corporate and institutional clients while supporting Georgia’s ambition to become a regional financial hub.
This milestone significantly expands Pave Bank Georgia’s global footprint and enhances its ability to serve businesses and investors with seamless cross-border transactions.
„We didn’t want to be dependent on a single partner for our payment infrastructure,” said Salim Dhanani, CEO & Co-Founder of Pave Bank Georgia “Our goal was to develop a diversified, resilient network of payment partners — across Europe, the UK, and the US — ensuring flexibility and global reach for our clients as businesses depend on the speed and reliability of their counterparties”.
According to him, Pave Bank Georgia currently works with two correspondent banks in the U.S., and has established relationships in the UK, Switzerland, Luxembourg, and Turkey. These are large and mid-sized, highly respected institutions that meet the bank’s rigorous standards for technology, compliance, and risk management.
“While we are technologically advanced, we remain aligned with the standards expected by leading banks. As part of our strategic vision, we are expanding and diversifying our payment and corporate treasury solutions to deliver best-in-class products tailored to the needs of Georgian and regional businesses—empowering them to thrive in an increasingly dynamic and interconnected financial ecosystem“, – Salim Dhanani says.
Risk Management, Compliance, and Technological Excellence
Building these relationships took time. Pave Bank engaged in over a year of detailed negotiations with each institution, focusing on risk mitigation, compliance, and regulatory alignment. The partnering banks were carefully selected based on stringent criteria, including technological capabilities, sustainability practices, regulatory transparency, and robust risk management frameworks.
“We’ve implemented multiple layers of security — transaction monitoring, fraud detection, risk management, and cyber threat detection — to ensure the integrity of every transaction. It’s not just about protecting our systems but also safeguarding the reputation of our correspondent banks, “– adds Dhanani.
Pave Bank’s internal due diligence process ensures that it only works with banks that meet best-in-class standards across compliance, regulation, and technology. This commitment to excellence extends directly to the service quality offered to clients.
“Ultimately, our clients benefit from this work. We can now offer global services with the confidence that our partners operate at the highest levels of integrity and technical sophistication.”- he says.
Georgia’s Regulatory Strength a Key Factor
The bank also highlighted the crucial role played by Georgia’s regulatory environment in facilitating international cooperation.
It is worth to mention, that the National Bank of Georgia’s strong reputation and harmonized regulatory standards significantly enhanced Pave Bank’s credibility during these discussions.
“Our international partners conducted thorough risk assessments, and Georgia’s alignment with European Central Bank regulations — as well as the oversight of the National Bank of Georgia (NBG) — played a decisive role in earning their trust.”- Dhanani said.
Empowering Georgia’s Role as a Regional Financial Hub
As Georgia positions itself as a growing trade, economic, and financial hub, Pave Bank sees its role as critical in supporting this transformation.
“Our focus is on delivering efficient, secure financial rails for businesses of all sizes,” Salim Dhanani added. “With access to FX services, virtual assets, corporate treasury products, and global, fast and secure payments, we’re helping make Georgia more attractive to international investors and enterprises.”
With these new correspondent partnerships in place, Pave Bank Georgia is well-positioned to provide global banking access — helping Georgian businesses scale internationally and bringing world-class financial services to the region.
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