Ripple and Finastra have begun their collaboration. From now on, Finastra’s customers will benefit from the high-speed blockchain platform.
In a tweet, Finastra announced that its partnership with Ripple will allow its clients to enjoy the perks of Ripple’s ultra-fast blockchain platform, RippleNet.
Great news! Through partnership w/ @Ripple our customers can connect & transact with RippleNet partners – more than 200 financial institutions worldwide for fast cross-border #payments. #blockchain https://t.co/KMO4z6vRe1
— Finastra (@FinastraFS) October 9, 2019
As a result, Finastra’s more than 200 of its customers will be able to connect and transact with RippleNet partners.
Consequently, users will get faster, cheaper, and safer payments. It will be possible to send international payments through end-to-end tracking and monitoring of fees, transaction times and status.
Finastra Senior Vice President Riteesh Singh says the collaboration with Ripple confirms that the future of finance is open.
He noted: “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 the cost of correspondent banking is high.”
The deal aims to boost integration with other network partners and provide faster updates, according to the announcement. The on-demand liquidity function will also be available, that is, xRapid.
Finastra started its operations in 2017. Currently, it is the third-largest fintech company in the world and has over 9,000 customers. It operates in 130 countries and serves 90 of the 100 largest banks. For Ripple, collaboration opens up new opportunities. It is perfect for the promotion of its product among financial institutions around the world.
Ripple is continuously developing, trying to become the leader of financial technology. It made a series of sagacious deals within a short period of time. Recently, they partnered with Bitpayand several banks. They are steadily expanding into the North and East. In June, the American company partnered with MoneyGram.
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