Why is National Bank of Georgia backing a shared platform instead of letting each bank run its own system?

NBG frames it as a supervisory tool: a common Nasdaq Calypso instance standardizes data and reporting across all five banks and supports ISO 20022 alignment, giving the regulator comparable risk visibility it would not get from five separate systems, per the release.

Georgia's Five Largest Banks to Share One Nasdaq

National Bank of Georgia and Nasdaq will move Bank of Georgia, TBC Bank, Liberty Bank, Terabank and Basisbank onto a single shared Calypso instance, tying roughly $38 billion in sector assets to one treasury and capital-markets infrastructure.

National Bank of Georgia and Nasdaq announced on July 20, 2026 that Bank of Georgia, TBC Bank, Liberty Bank, Terabank and Basisbank — roughly $38 billion in sector assets — will share one Nasdaq Calypso platform for treasury operations, under the Georgian Market Advancement Program, to standardize data, support ISO 20022 and sharpen the regulator's systemic-risk view.

BankGenX Desk July 20, 2026 Updated July 20, 2026 · 3 min read

Five banks — Bank of Georgia, TBC Bank, Liberty Bank, Terabank and Basisbank — representing roughly $38 billion in sector assets will run on one shared Nasdaq Calypso instance rather than five separate deployments.
The rollout is structured as the Georgian Market Advancement Program (GMAP), coordinated with the Georgian Financial Markets Treasuries' Association.
National Bank of Georgia frames the motive as supervisory: standardized data and ISO 20022 alignment across all five banks, not just bank-side efficiency.
Project-management funding comes from Japan via the Japan–EBRD Cooperation Fund; each bank's data stays segregated within the shared instance.
Contract value, per-bank cost, and a go-live date are not disclosed in the announcement.

National Bank of Georgia (NBG) and Nasdaq confirmed on July 20, 2026 that five of the country's largest commercial banks — Bank of Georgia, TBC Bank, Liberty Bank, Terabank and Basisbank, together holding roughly $38 billion in sector assets — will run on one shared Nasdaq Calypso instance rather than five separate deployments, according to a joint press release. Each bank's data stays segregated within the centralized platform, per Nasdaq. The move puts a common treasury and capital-markets system under the whole banking sector, not just under any single lender.

Why a Shared Instance, Not Five Separate Deployments

A shared Calypso instance is the structural bet: instead of five banks buying and running separate treasury systems, NBG centralized the model under the Georgian Market Advancement Program (GMAP), coordinated with the Georgian Financial Markets Treasuries' Association, per the release. Magnus Haglind, Nasdaq's head of capital markets technology, called Georgia 'a compelling example of how the shared infrastructure model can unlock real value,' per the release. Shared infrastructure typically lowers per-bank integration cost versus bespoke builds, though the release does not disclose contract value or per-bank pricing.

The Regulator's Stake

For NBG, the deal is about supervisory visibility as much as bank efficiency. Governor Natia Turnava called treasury modernization 'a strategic priority' for 'raising the standard of risk management,' per the release. A common platform gives the central bank standardized data and reporting across all five banks and is meant to support alignment with ISO 20022, the global financial-messaging standard, per the release. That consistency is what lets a regulator compare risk exposure across banks on equal terms, rather than reconciling five different data formats.

What's Funded, and What's Still Unconfirmed

Project-management funding comes from Japan via the Japan–EBRD Cooperation Fund, per the release, tying the deployment to broader EBRD technical-assistance work in Georgia's financial sector. Lasha Jugeli of the Georgian Financial Markets Treasuries' Association called GMAP 'a pivotal moment' for the sector, per the release. Not disclosed: total contract value, a go-live date for the five banks, or which vendor handles ongoing operation of the shared instance. Those terms would confirm how quickly — and at what cost — the migration actually lands.

Which banks are involved and what share of Georgia's banking sector do they represent?: Bank of Georgia, TBC Bank, Liberty Bank, Terabank and Basisbank — together holding roughly $38 billion in sector assets, per the July 20, 2026 Nasdaq/National Bank of Georgia announcement.
Why is National Bank of Georgia backing a shared platform instead of letting each bank run its own system?: NBG frames it as a supervisory tool: a common Nasdaq Calypso instance standardizes data and reporting across all five banks and supports ISO 20022 alignment, giving the regulator comparable risk visibility it would not get from five separate systems, per the release.
Who is funding the project and under what program?: The initiative runs under the Georgian Market Advancement Program (GMAP), coordinated with the Georgian Financial Markets Treasuries' Association, with project-management funding from Japan through the Japan–EBRD Cooperation Fund, per the release.