Finastra Joins RippleNet, Option to Use XRP for On-Demand Liquidity
- Ripple adds another payment solution provider
The company's hundred’s of banking customers process millions of transactions each month
As part of this partnership, Finsatra’s hundreds of customers will now be able to connect and transact with RippleNet partners — more than 200 financial institutions worldwide. The users will be able to send international payments with end-to-end visibility and tracking into fees, delivery time, and stats.
“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.”
Now faster, cheaper, and more reliable payments will be possible for Finastra customers through Ripple’s global blockchain payments network.
The company's customers will be further hosted on Ripple’s cloud solution that will offer significantly improved the speed of integration with other network partners and allow for faster upgrades.
Customers will also have the option to use Ripple’s on-demand liquidity that leverages its digital asset XRP for cross border payments.
In turn, RippleNet’s over 200 customers will get access to Finsastra’s extensive network of banks. Currently, its banking customers process millions of transactions each month.
“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,”
said Riteesh Singh, Senior Vice President, FMS, Finastra.
“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,”