LHV becomes first UK bank to join RT1 platform directly
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This milestone enhances LHV's cross-border payment offering and makes real-time euro payments possible through SEPA Instant.
While other UK institutions facilitate access to euro payments through the RT1 scheme, they do so via indirect access, limiting them to serving end users without the ability to offer payment services to other financial institutions. LHV's new direct integration with the SCT scheme sidesteps those constraints and allows it to offer seamless connection to the SEPA network.
This direct participation reaffirms LHV Bank's position in the European payments landscape and enhances its cross-border capabilities, allowing it to offer more efficient, cost-effective, and scalable payment services by removing the need for correspondent banking relationships or third-party intermediaries.
Erki Kilu, CEO of LHV Bank, commented: 'This is a technical upgrade and strategic step forward. We're helping to shape the next generation of cross-border payments, and direct participation in SCT Instant strengthens our standing as a trusted partner for fintechs and internationally focused businesses.'
The announcement follows a series of recent milestones for LHV Bank, including launching retail banking to the UK market in May, and being selected as one of the Sunday Times' Best Places to Work and winning two awards at the ICA Compliance Awards in June.
With LHV Bank SEPA Instant integration via RT1, the bank maintains its position as a leader in European real-time settlements while providing scalable, effective payment services.
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