The Central Bank of Montenegro’s Governor Irena Radovic met representatives of Erste Group to discuss the Group’s plans and projects in Montenegro and the central bank’s efforts to accelerate alignment with European regulatory and institutional requirements, with a focus on payment system modernisation. Discussions covered Montenegro’s adherence to the Single Euro Payments Area (SEPA), which the Governor linked to integration into the European payment area, and the upcoming TIPS Clone project to introduce a national instant payment system. The central bank positioned TIPS Clone as a step toward interoperability with the European Central Bank’s TIPS system and the digital transformation of payment systems in line with European Union standards, and said SEPA and TIPS Clone should open the market and increase competition, including by attracting new payment service providers and fintech companies. Erste Group indicated it was ready to continue supporting the development and modernisation of Montenegro’s financial system, and both sides signalled an intention to deepen cooperation on digital transformation, payment infrastructure, financial inclusion and financial stability.
Central Bank of Montenegro 2025-11-10
Central Bank of Montenegro meets Erste Group to discuss SEPA integration and TIPS Clone instant payments
Governor Irena Radovic of the Central Bank of Montenegro met with Erste Group to discuss aligning Montenegro's payment systems with European standards, focusing on SEPA adherence and the TIPS Clone project for instant payments. The central bank aims to enhance interoperability with the European Central Bank's TIPS system, fostering market competition and attracting new service providers. Both parties committed to deepening cooperation on digital transformation, payment infrastructure, financial inclusion, and stability.