Knox Wire announces new cross-border financial solutions faster and cheaper than anything on the market.
The company has launched an innovative Real-Time Gross Settlement (RTGS) Network.
This service challenges already established wire transfer systems like RippleNet and Swift.
Knox Wire is on the verge of revolutionizing international transactions via financial institutions. Its latest service supports almost instant cross-border transfers and two-way messaging. As a result, transactions and communication between tens of thousands of financial providers can be faster and cheaper.
According to Knox Wire CEO Stephen McCullah, the service will go head to head with other real-time settlement platforms. However, its solutions should stand out from the competition by being safer, more cost-effective, and more flexible.
How Knox Wire will Change the Financial Map Forever
The financial industry has come a long way in recent decades. Today, people can enjoy making international transactions through various banking and financial organizations. However, the current system struggles to keep up with the rapid technological advances. As a result, most operations are slow, costly, and often unreliable.
Knox Wire comes with unique solutions that will force the financial sector to take an unprecedented technological leap. To this end, it employs military-level security on a platform that embraces all the latest developments in the field.
The service combines world-class DLT infrastructure database sharding, decentralization features, etc. This enables speedy and effective communication between two organizations participating in a cross-border transfer. Also, the platform uses a distributed ledger technology (DLT) on the Apollo blockchain to process international payments.
Knox Wire also proposes an off-network settlement system between more than 30,000 financial institutions worldwide. Several prominent organizations participate in this rapidly-expanding ecosystem, including banks, brokerage firms, financial providers, and government-administered systems.
Currently, Knox Wire connects users from across 200 countries worldwide, enabling them to trade in over 150 currencies. Moreover, this impressive global availability should soon expand to reach communities with restricted access to financial services.
Onboarding to Knox Wire
Financial institutions looking to onboard Knox Wire will access numerous benefits that most such services cannot offer. For instance, Knox Wire is the only settlement and wire transfer system that does not require an upfront fee.
Connecting any financial organization to Knox Wire usually takes less than two weeks. The platform’s design supports fast AI & API integrations, testing, and almost seamless onboarding. Furthermore, the participating institution’s employees do not require extensive training to understand how to use the service. On the contrary, Knox Wire is user-friendly and employs an intuitive learning mechanism, making it easy for anyone to navigate.
Knox Wire Services and Benefits
- Engage in cross-border transactions between 200 countries in 150 currencies.
- Benefit from a quick bi-directional messaging system.
- Enjoy helpful solutions from a 24-hour customer support system.
- As a participating institution, you benefit from real-time payments to other participants.
- Access a substantial income possibility.
- Benefit from some of the lowest transaction costs in the industry.
- Rely on quick installation with zero upfront integration costs
- Relax knowing that your financial operations take place on a highly secure encrypted infrastructure.
Conclusion
Knox Wire is rapidly confirming the positive expectations of financial analysts everywhere. This service can solve many of the issues that plague today’s RTGS and wire transfer sector. Finally, we can rely on a fast, secure, and effective solution for real-time, cross-border transfers.
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