International payments and settlements have two things in common. They are slow and expensive. Fortunately, all of that is about to change thanks to Knox Wire and its revolutionary RTGS solution.
Knox Wire is a fintech service offering real-time gross settlements (RTGs) and wire transfer solutions. Contrary to competitors like Swift or RippleNet, this platform uses up-to-date technologies to make cross-border transactions safer, quicker, and cheaper.
Since its official launch, more than 30,000 financial institutions worldwide have implemented Knox Wire’s solutions. The company’s CEO, Stephen McCullah, believes this is only the early beginning of a historic shift in international finances.
A Brief Presentation of Knox Wire
Knox Wire bases its operations on the secure exchange of financial messages. This enables banks and financial organizations to send, receive, inquire, and validate data and transactions in real-time. Moreover, the platform functions as a worldwide mesh of financial providers linking participants through tailored solutions.
For example, Knox Wire facilitates international transfers between institutions in 200 countries worldwide. Also, these organizations can have their pick of currency from nearly 150 alternatives.
Knox Wire uses a distributed ledger technology (DLT) on the Apollo blockchain to process international payments. Also, it uses an intermediary currency option, Gold Secured Currency (GSX), enabling organizations to preserve the value of their assets.
Lastly, Knox Wire uses a dual payment system to improve communication and transaction speed between the participating financial institutions. The platform’s high architecture level also provides them with security, stability, and potential income opportunities.
Knox Wire Advantages for Financial Institutions
- Make cross-border payments to 200 countries in 150 currencies.
- Obtain transfer confirmations in less than two seconds.
- Use a bi-directional messaging system.
- Benefit from same-day settlements.
- Access 24-hour system support for helpful solutions.
- Participating Institutions can engage in real-time international payments.
- Financial organizations can earn up to 0.5% on near-instant transactions.
- Pay for some of the lowest transaction costs in the industry.
- Get on board the Knox Wire Network without paying upfront integration fees.
- Rely on a highly secure and encrypted infrastructure.
Why Onboarding Knox Wire is the Best Solution
Knox Wire aims to break the oligopoly of two major industry brands, RippleNet and Swift. To this end, it employs some of the most attractive services and bespoke solutions in the field.
For example, Knox Wire allows financial institutions to implement it in less than two weeks. On the other hand, Swift can take up to 1 year to complete the integration process.
Additionally, Knox Wire guarantees near-instant transaction time and same-day cash settlements. Conversely, Swift requires between 1 and 5 days to confirm transactions. Also, it does not have an option for settlements in less than 24 hours.
Lastly, onboarding Knox Wire involves zero upfront integration costs. However, if a financial institution were to choose Swift, it would have to pay $30,000 upfront. Also, it would have to follow up with monthly payments of at least $6,000.
You can onboard Knox Wire by contacting the team, which consists of only financial professionals. They will use their solid expertise in finances and brokerage to guide you through the implementation process. From there on, you can enjoy all the benefits of using this unique service.