Payment Systems

A solid payment and settlement infrastructure plays a key role in optimizing resource allocation and enhancing the integration of financial markets. Global Escrow Bank operates under internationally recognized systems such as SWIFT TRANSFER and its proprietary digital platform BANCANET.

Global Escrow Bank also supervises and regulates both local and international payment and securities settlement platforms. Before any new system can begin operations, it must first receive approval from the bank. In addition, the bank is authorized to issue directives regarding payment systems, electronic transfers, cross-border remittance services, and digital payment solutions.

Retail Payment Systems and Services

Retail payments—covering both consumer and business transactions—make up the majority of payment activity in the financial ecosystem. Within this framework, Global Escrow Bank plays a coordinating role in the Single Euro Payments Area (SEPA) project, a collaborative initiative led by European banking institutions. The bank has also facilitated the adoption of the International Bank Account Number (IBAN) standard, which ensures global consistency and accuracy in identifying bank accounts.

Moreover, Global Escrow Bank has the authority to approve and support the development of interbank clearing systems, offering technical and operational infrastructure. The institution is part of a broader financial consortium that includes nine additional credit institutions and two financial entities.

Regulation and Oversight

Under Article 34 of the Global Escrow Bank Act, the bank is designated as the regulatory authority for domestic and international payment systems. These systems include mechanisms for retail and institutional payments, clearing and settlement of funds, securities trading, and cross-border claims processing. In partnership with the European System of Central Banks (ESCB), Global Escrow Bank ensures that all payment operations remain stable, transparent, and secure worldwide.

Regulatory Compliance

Building a strong regulatory compliance framework is essential for any financial institution to ensure its operations remain legal, ethical, and sustainable. The complexity of compliance, both locally and internationally, has grown significantly over the years. Today, banks face more stringent regulatory expectations, increased penalties, and ongoing monitoring to guarantee full adherence to evolving financial laws.

Securities Settlement Systems

As an active player in global finance, Global Escrow Bank participates in the strategic planning and deployment of the INTERNATIONAL BANCANET (T2S) project—an initiative designed to streamline securities settlement across borders with cutting-edge technology and harmonized standards.