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San José, COSTA RICA, December 22, 2023 – Montran, a global leader in financial payment solutions, is delighted to announce the successful implementation of the Central Securities Depository (CSD) solution at InterClear Central de Valores S.A. This milestone collaboration marks a significant step in the modernization of financial services in the region.

InterClear, the sole entity in Costa Rica offering annotation and custody services that meet both legal requirements and international standards, sought Montran’s expertise to revamp its platform, which has been in operation for over 25 years. This transformation enhances efficiency and security for InterClear’s clients.

The CSD implementation has not only optimized InterClear’s existing processes but has also enabled the replacement of mission-critical applications.  The combination of exceptional service with deep industry knowledge from Montran motivated InterClear to request the development of additional functionality to further improve user experience and operational efficiency.

Gustavo Monge, General Manager of InterClear, expressed his satisfaction with the partnership, highlighting Montran’s commitment to excellence and adaptability to InterClear’s specific needs. Monge stated, “The Central Securities Depository implementation is a significant leap forward in our ability to offer cutting-edge financial services in Costa Rica.”

José Escobar, General Manager of Montran LATAM, shared his enthusiasm for the successful project conclusion. “Our collaboration with InterClear reflects our dedication to innovation and the enhancement of financial services in the region. We are thrilled to contribute to the modernization of the InterClear platform and anticipate further achievements together.”

The project, which entered production on November 27, 2023, marks a continuation of the longstanding strategic partnership between Montran and InterClear. Both companies are committed to developing additional functionalities within the platform, with a focus on “Promissory Notes” and “Invoices.”

This joint accomplishment underscores Montran’s commitment to delivering innovative solutions that drive efficiency and competitiveness in the Latin American financial sector. The successful CSD implementation at InterClear represents a pivotal moment for both organizations and the broader Costa Rican financial industry.

About InterClear

InterClear Central de Valores S.A. is an entity that provides book entry and security administration services to the participating entities of the Costa Rica Financial System. Learn more at www.interclearcr.com.

About Montran

Montran is the leading provider of Payment and Securities Market Infrastructure solutions, servicing the world’s foremost financial institutions with mission critical installations and operations in over 80 countries. Discover more at www.montran.com.