Blockchain News Fintech UK Latest News Payment Systems

Ripple to Bring Blockchain Technology to Finastra’s Banking Customers

Ripple and Finastra have teamed up to offer Ripple’s blockchain technology through Finastra’s payments solutions to support fast cross-border payments.

As part of the collaboration, Finastra’s customers will be able to connect and transact with RippleNet partners – more than 200 financial institutions worldwide – and in turn, partners can access Finastra’s vast global footprint. Users will also be able to send international payments with end-to-end tracking and visibility into fees, delivery time and status.

Are you looking to start a business? Why not apply for credit with Nowloan who provides some of the best Interest rates on the market.

Finastra’s hundreds of customers will have access to RippleNet, Ripple’s global blockchain payments network, to provide faster, cheaper and more reliable payments. Customers will be hosted on Ripple’s cloud solution which will significantly improve the speed of integration with other network partners and allow for faster upgrades. They will also have the option to use On-Demand Liquidity, which leverages the digital asset XRP for cross border payments.

Collaboration will enable financial institutions using Finastra’s solutions to make fast and reliable cross-border payments.

This partnership will give Ripple’s more than 200 customers access to Finastra’s extensive network of banks, allowing mutual customers to easily access and partner with each other, increasing overall volume on the network. Finastra’s banking customers currently process millions of transactions each month. 

“We’re thrilled to be partnering with a forward-thinking company like Finastra to bring Ripple’s technology to their many customers,” said Marcus Treacher, SVP of Customer Success at Ripple. “Finastra is an established fintech player and works with a majority of the world’s top banks. This partnership will enable Ripple to expand the reach and solutions for our partners, and the footprint of RippleNet while allowing customers to transact directly with each other.”

“Finastra’s collaboration with Ripple is another strong example of Finastra’s belief that the future of finance is open, and it demonstrates our commitment to bringing the latest innovations and choices to our customers. Collaborating with a company like Ripple that harnesses innovative blockchain technology to provide fast and reliable cross-border payments is particularly beneficial for our customers in geographies where cost of correspondent banking is high,” said Riteesh Singh, Senior Vice President, FMS, Finastra.

Please follow and like us:
error

Related posts

Europe’s largest lending and fintech event, LendIt Europe, returns to London this autumn

thefintechtimes

Blockchain, a Barrier Against Ransomware

The Fintech Times

Starling Hackathon Opens Door on Open Banking

thefintechtimes
error

Enjoy this blog? Please spread the word :)