Money Rebel, a platform that is building a future-proof hybrid financial service and banking platform for the crypto industry is using Ripple technology for cross border money transfers, as per the documents.
Unlike traditional baking that uses international SWIFT services as the “cornerstone “ for processing the cross-border transfers, the 2018 ICO project will be using the disruptive blockchain-based service provided by the Ripple Protocol.
By using Ripple’s services, MR Mobile Bank will allow its customers to have almost instant cross border transfers with the “guarantee” of the lowest possible fees that are transparent.
Being a Mobile Bank, it will enable only digital funding.
In phase one, it will create and extend a customer master data repository, and accounting and pricing repositories. In the next phase, it will create all mandatory modules and framework for the banking business functionality. In phase three, it will connect the functionalities into the smart MR Mobile Bank.
This implies automation of exposed processes and the creation of a fully functional native application with the built-in transaction, money remittance (fiat-to-crypto) functionalities, and online real-time virtual assistant.